ECONOMICS REPORT - Business Organizations

ECONOMICS REPORT - Business Organizations
By Mario Ritter

Broadcast: Friday, February 11, 2005

I'm Gwen Outen with the VOA Special English Economics Report.

Businesses are structured in different ways to meet different needs.

The simplest form of business is called an individual proprietorship². The proprietor¹ owns all the property of the business and is responsible for it. This means the proprietor receives all profits -- but also must pay any debts. The law recognizes no difference between the owner and the business.

Another kind of business is the partnership³. Two or more people go into business together. An agreement is usually needed to state how much of the partnership each person controls.

There are limited liability partnerships⁴. These have full partners and limited partners. Limited partners may not share as much in the profits. But their responsibilities are also limited.

In the United States, the federal government does not tax partnerships. The partners are taxed, though, on the payments they receive.

Doctors, lawyers and accountants often form partnerships to share the profits and risks of doing business. A husband and wife can form a business partnership.

Partnerships can end at any time. But partnerships and individual proprietorships exist only as long as the owners are alive.

The most complex kind of business organization is the corporation. Corporations are designed to have an unlimited⁵ lifetime.

Stock is a share of ownership in a corporation. Investors⁶ who buy stock can trade their shares or keep them as long as the company is in business. A company may pay shareholders⁷ in the form of what are called dividends⁸. Or the company may reinvest its earnings⁹ into the business.

If shares lose value, investors can lose all the money they paid for their stock. But shareholders are not responsible for the debts of the corporation. A corporation is recognized as its own legal being, separate from its owners.

A board of directors controls corporate¹⁰ policies. The directors appoint top company officers. The directors might or might not hold shares in the corporation.

Corporations may have a few major shareholders. Or ownership may be spread among the general public. Incorporating offers businesses a way to gain the investments they need to grow.

But not all corporations are traditional businesses that sell stock. The American Red Cross is an example of a non-profit corporation.

This VOA Special English Economics Report was written by Mario Ritter. I'm Gwen Outen.

1 proprietor   

n.所有人；业主；经营者

参考例句：

• The proprietor was an old acquaintance of his.业主是他的一位旧相识。
• The proprietor of the corner grocery was a strange thing in my life.拐角杂货店店主是我生活中的一个怪物。

2 proprietorship   

n.所有（权）；所有权

参考例句：

• A sole proprietorship ends with the incapacity or death of the owner. 当业主无力经营或死亡的时候，这家个体企业也就宣告结束。 来自英汉非文学 - 政府文件
• This company has a proprietorship of the copyright. 这家公司拥有版权所有权。 来自辞典例句

3 partnership   

n.合作关系，伙伴关系

参考例句：

• The company has gone into partnership with Swiss Bank Corporation.这家公司已经和瑞士银行公司建立合作关系。
• Martin has taken him into general partnership in his company.马丁已让他成为公司的普通合伙人。

4 partnerships   

n.伙伴关系( partnership的名词复数 )；合伙人身份；合作关系

参考例句：

• Partnerships suffer another major disadvantage: decision-making is shared. 合伙企业的另一主要缺点是决定要由大家来作。 来自英汉非文学 - 政府文件
• It involved selling off limited partnerships. 它涉及到售出有限的合伙权。 来自辞典例句

5 unlimited   

adj.无限的，不受控制的，无条件的

参考例句：

• They flew over the unlimited reaches of the Arctic.他们飞过了茫茫无边的北极上空。
• There is no safety in unlimited technological hubris.在技术方面自以为是会很危险。

6 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

7 shareholders   

n.股东( shareholder的名词复数 )

参考例句：

• The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
• the company's fiduciary duty to its shareholders 公司对股东负有的受托责任

8 dividends   

红利( dividend的名词复数 )； 股息； 被除数； （足球彩票的）彩金

参考例句：

• Nothing pays richer dividends than magnanimity. 没有什么比宽宏大量更能得到厚报。
• Their decision five years ago to computerise the company is now paying dividends. 五年前他们作出的使公司电脑化的决定现在正产生出效益。

9 earnings   

n.工资收人；利润，利益，所得

参考例句：

• That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
• Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。

10 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。