Вопрос № 224039 - Английский язык

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The corporation form of business has several 1_________ over the sole proprietorship and partnership. It is a separate 2_________ entity and offers limited liability to the owners, ease of capital generation and 3__________ of transfer of ownership. 4_________, it allows centralized authority, responsibility and professional management.

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In terms of purpose, a corporation is either public or private. A public corporation is established for a governmental purpose. State hospitals and state universities are public corporations. A private corporation is established by private citizens for a business or charitable purpose. Sometimes a private corporation is called public because its stock is broadly owned by the general public. This differentiates it from a private corporation where the stock is owned by only one or a small number of shareholders. The latter type is also known as a close or closely-held corporation.

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Management of a 1_________ consists of the board of directors who decide corporate policy, and the officers who carry on the daily 2__________. The 3__________ is elected by the stockholders, and the officers are appointed by the board. Some specific duties of the board of directors are to declare dividends, authorize 4___________, decide on executive salaries, and arrange major loans banks.

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The corporation form of business has several 1_________ over the sole proprietorship and partnership. It is a separate 2_________ entity and offers limited liability to the owners, ease of capital generation and 3__________ of transfer of ownership. 4_________, it allows centralized authority, responsibility and professional management.

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The corporation form of 1__________ has 2_________ disadvantages. It is subject to greater 3_________ regulation and double taxation. In addition, separation of ownership and control may allow management to 4__________ harmful decisions.

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Milbank is known to have advised a variety of Western clients over the years on trade, licensing and related transactions with 1________ Europe. Most recently, for example, Milbank advised a major American retail company on its sale of certain equipment for use in Russian 2_________ and assisted a Western bank in devising a structure to monetize East German foreign 3_________ obligations. Milbank has many 4________ of experience in advising clients on export controls and technology transfer restrictions that may be applicable in these transactions.