7. To describe the company’s structure, make one sentence from two, using one of these relative pronouns.

which that who when whose

1 Shareholders of the private company include the founder, some close relatives and top managers. These people provided capital for doing the business.

2 Shareholders of the private limited company (Ltd.) are private owners. Their liabilities are limited to the amount of capital subscribed.

3 Share is one of the equal parts of a company. You can buy shares to invest in business.

4 Shares are offered to the public by a public limited company (PLC). Its members have the unlimited right to sell shares to other persons.
8. You’ve learnt about the types and company structures in English speaking countries. There exist companies registered in Russia as: ИП, ОАО, ЗАО, ООО, АО (акционерное общество) or Joint Stock Company (JSC), Open Joint Stock Company (OJSC), Close Joint Stock Company (CJSC).

1. 
   Rationalize in pairs the answer to the questions:
   

1. 
   What type of the company structure do the above-listed Russian firms belong to: PLC, Ltd., sole proprietorship or partnership?
   

2. What is the simplest way of starting business?

3. What is the riskiest way of starting business?

4 .What way of forming a company is the most common in the Russian Federation?

5. What type of business are you going to set up?

2. 
   Share your opinion with the group-mates.
   

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