【商務英語】企業(yè)產(chǎn)權形式(s of Business Ownership-精簡版).doc

1. Sole Proprietorships（個人企業(yè)即獨資經(jīng)營企業(yè)）An organization that is owned, and usually managed, by one person.Advantages: 1.a sole proprietor is his own boss; 2. The easiest form to start business;Disadvantages: 1.Lack of enough capital 2. Unlimited liability (無限責任) 3. Long working hours 4.Lack of the fringe benefits (附加福利)(Unlimited liability無限責任：if the business owes money, the business owner is responsible for the debts, and the owner may have to use personal assets to pay. Sole proprietors are liable for all the debts of the business.)(Limited liability有限責任： a persons financial liability is limited to a fixed sum, most commonly the value of a persons investment in a company.)(fringe benefit附加福利: an incidental benefit awarded for certain types of employment (especially if it is regarded as a right) such as health insurance, disability insurance, sick leave, vacation pay , etc.)2. Partnerships (合伙企業(yè))A legal relationship between persons carrying on a profit-motivated business.3 key elements：1) Common ownership,2) Shared profits and losses,共同收益共擔風險3) The right to participate in managing.2 types of partnerships ：1)General partnership(普通合伙)2)Limited partnership (有限合伙)(The general partners arrange & run the business, while the limited partners are investors only)Advantages: 1. Combining people with different skills and resources together;2. More money and credit to pay the rent, utilities, and other bills incurred by a business.(E.g. husband-and-wife teams managing restaurants, service shops)Disadvantages:1. Unlimited liability2. Division of profits3. Disagreement among partners4. difficult to terminate the business3. Joint ventures (合資企業(yè))The pooling of resources and expertise by two or more businesses, typically from different areas or countries to achieve a particular goal.（2或2個以上屬于不同國家地區(qū)的公司為了達成一個特別的目的）Advantages：Business expansion, development of new products, access to new markets and distribution networks.Disadvantages：1：Imbalance in levels of expertise（專門技術、專家意見）, investment or assets brought into the venture by different partners.（技術、投資、財產(chǎn)收益不均衡）2：Different cultures and management styles result in poor integration（綜合、結合） and cooperation.（不同文化、管理方式導致合作出現(xiàn)磨合）4. Corporations （公司）A legal entity (法人實體), allowed by legislation(公司法), which permits（允許、準許） a group of people, as shareholders（股東） or members, to create an organization, which can then focus on pursuing set objectives（客觀的、目標、軍事目標）, and empowered with legal rights usually reserved for individuals, such as to sue and be sued, own property, hire employees or loan and borrow money. (依照公司法規(guī)定設立的法人組織，具有獨立的法人資格，有權以自己的名義擁有資產(chǎn)、享有權利和承擔義務。其主要形式為有限責任公司和股份有限公司。Wal-mart -ppt-23、State Grid國家電網(wǎng)-ppt-24) Advantages: 1.limited liability:2.skilled management team: professional managers(職業(yè)經(jīng)理人)3. Transfer of ownership:（所有權轉化）4. Greater capital base:（雄厚資金）5. Stability:（穩(wěn)定）Disadvantages：1. multiple taxation(雙重課稅)2. difficulty and expense of starting（創(chuàng)業(yè)難）3. government involvement（政府干預）4. lack of secrecy（無私密性）5. Lack of personal interest 6. Credit limitations5. Limited liability companies (LLC, 有限責任公司) A type of business ownership combining several features of corporation and partnership structures.（結合了公司的一些特征和合伙企業(yè)的組織結構，股東以其出資額為限對本公司承擔責任，公司以其全部責任對公司債務承擔責任）Advantages：1. limited liability2. Flexible profit distribution（利潤分配自由）3.no minutes(無備忘錄,會議記錄)4. Flow through taxationDisadvantages: 1.limited life2.going public (上市)(To become publicly owned, by launching shares of stock onto the open market.公開發(fā)售股票:通過把股票投入公開市場而使為公眾所擁有)3. Added complexity（增加復雜性）Mergers(兼并) The result of the combination of two companies (or corporations) to form a new company.（2或2個以上企業(yè)合并，企業(yè)因吸收了其他企業(yè)而成為續(xù)存企業(yè)的合并形式） 1) Horizontal merger橫向兼并（統(tǒng)一經(jīng)營環(huán)節(jié)消除減少競爭） When two companies competing in the same market merge or join together (say, if McDonalds were to merge with Burger King). 2) Vertical merger縱向兼并（同一生產(chǎn)過程相關產(chǎn)業(yè)鏈保證銷路） A vertical merger is one in which a firm or company combines with a supplier or distributor. (Say, if General Motors were to buy up Bridgestone Tyres and Michelin Tyres)3) conglomerate merger 混合兼并（跨行產(chǎn)品多樣性）Acquisition/takeover (收購) One company buying the property （所有權、財產(chǎn)權）and obligations of another company.（一個企業(yè)購買另一個企業(yè)的資產(chǎn)和債務）Differences ：A merger is a combination of two companies to form a new company; an acquisition is the purchase of one company by another with no new company being formed.Franchise (特許經(jīng)營)The right to use a business name and sell products or services, usually in a specific geographical territory. Advantages: 1) Less risk and more support2)Established infrastructure, product line（5如同產(chǎn)品系列）， marketing strategy3) Set customer base4) Management assistance, training, and financial support from the franchiser Disadvantages:1) Less freedom and m