Unit 2. English E_Commerce

8/22/2019 Unit 2. English E_Commerce

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LEGAL FORMS OF ORGANIZATIONS

1. Legal form of organization : loai hinh doanh nghi p2. Joint-stock company : cng ty c phn

3. Partnership : cng ty hp danh4. Private enterprise : doanh nghip t nhn5. Business registration certificate : giy phep ng ky kinh doanh6. Limited liability company with more than one member: cng ty TNHH 2 TV tr ln7. Sola member limited liability company: cng ty TNHH MTV8. Charter capital : vn iu l 9. Shareholder : c ng10. Capital mobilization : s huy ng vn11. Ordinary share : c phiu thng12. Preference share : c phiu u ai

13. Preference shareholder : c ng u ai14. Voting preference share : c phiu u ai co quyn biu quyt/buphiu

15. Dividend preference share : c phiu u ai c tc16. Redeemable preference share : c phiu u ai co th chuc lai17. Founding shareholder : c ng sang l p18. Shareholderss Genreral Meeting : ai hi c ng19. Dispute : tranh chp20. Articles of co-partnership : iu l h p danh21. Securities : chng khoan, trai phiu

22. General partner : thanh vin h p danh23. Limited partner : thanh vin gop vn24. Legal status : t cach phap nhn25. Appropriate authority : nha chc trach thich h p26. Responsible : chiu trach nhim27. Committee : cam kt28. Contribute : ong gop29. issue (issuing) : phat hanh30. Contract : trai ngc31. Owner (n)-owned(adj) : chu s hu32. Liable (adj) liability (n) : trach nhim phap ly33. prohibite (v) : ngn cm34. offer (v) : ban35. Divide : chia ct36. Transfer : chuyn nhng37. Stipulate : quy inh38. asset : tai san39. terminate : hoan thanh


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In order to do business, you should register your business with the appropriateauthorities ( kinh doanh, ban cn phai ng ky doanh nghi p cua cac ban vi cac nhachc trach thich h p). To do this, you first need to decide which legal form oforganization is suitable for your business (Lam iu nay, iu u tin ban cn la quytinh loai hinh doanh nghi p nao la thich h p vi doanh nghi p cua ban). In business,

there are many legal forms of organizations. Each form has certain advantages anddisadvantages (Mi loai hinh co nhng li th va nh ng bt li nht inh). The fourforms discussed in this lesson are limited liability company, joint-stock company,partnership and private enterprise (Bn loai hinh c c p trong bai nay la CtyTNHH, Cty CP, Cty h p danh, va DNTN).

A limited liability company (LLC) with more than one member is an enterprise inwhich members can be organization(s) and/or individual(s) (Mt Cty TNHH vi nhiuhn 1 thanh vin la DN vi thanh vin co th la t ch c hay ca nhn ), and the totalnumber of member is no more than fifty (va tng s thanh vin la ko qua 50 ). Members,are responsible for debts and other liabilities of the enterprise within the amount of

capital that they committed to contributing to the enterprise (Thanh vin, chiu trachnhim v s n va nh ng nghia vu cua DN nm trong s c ph n ma ho cam k t onggop cho DN). It is given a legal status from the issung date of the business registrationcertificate and is not entitled to issue share (No a ra t ca ch phap nhn bt u tngay ng ky giy chng nhn kinh doanh va ko co quy n phat hanh c phiu). Thelimited liability company with more than one member is in contrast to a sole memberlimited liability company which is an enterprise owned by one organization or individual(Cty TNHH nhiu thanh vin trai ngc vi Cty TNHH MTV-c s hu bi 1 t chchay ring le). The company owner is liable for debts and other obligations of thecompany within the charter capital (Chu nhn Cty thi co tra ch nhim vi s n va nh ng

trach nhim khac cua cng ty trong vn iu l). Like the limited liability company withmore than one member, this types of company is prohibited from offering shares (NhCty TNHH nhiu thanh vin, nhng loai hinh Cty nay bi ngn cm ban c phiu). Both ofthe two types of limited liability companies are given legal status from the issuing date ofthe business registration certificate (Ca 2 loa i hinh Cty TNHH nay u c t cachphap nhn bt u t ngay ng ky chng nhn kinh doanh).

Ajoint-stock company is an enterprise in which charter capital is divided intoequal portions known as shares (Cty CP la DN trong o v n iu l c chia thanhnhng phn bng nhau c bit n nh c phiu). Shareholders can be organization orindividuals (C ng co th la nh ng t ch c hay nhng ca nhn ). The minimummember of shareholders is three and there is no restriction on the maximum number ofshareholders (S thanh vin c ng nho nh t la 3 va ti a la ko han ch). Shareholdersare liable for debts and other liabilities of the company within the amount of the capitalthat they contributed (Nhng c ng co tra ch nhim nhng mon n va nhng nghia vu khac cua Cty nm trong s c ph n ma ho ong gop). They are free to transfer theirshares (Ho c t do chuyn giao quyn s hu nhng c phiu cua ho). The joint-stockcompany is given a legal status from the issuing date of the business registrazationcertificate (Cty CP c co t cach phap nhn t ngay ng ky chng nhn kinh doanh).


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It is entitled to issue securities for the purpose of capital mobilization (o la quy n chos an toan c t ra cho vic huy ng vn). The joint-stock company must issueordinary shares (Cty CP phai phat hanh c phiu thng). Owners of such shares arereferred to as ordinary shareholders (Nhng chu nhn cua nhng c phiu c quy vaonhng c ng thng). It can also issue, preference shares (No cung co th lu ha nh c

phiu u ai). Owners of preference shares are referred to as preference shareholders.Preference shares include: voting preference share, dividend preference share,redeemable preference share and other types of preference share as stipulated in thecompany charter (C phn u ai bao gm: nhng c phn u ai co quyn biu quyt,c phiu u ai c tc, c phiu u ai co th chu c lai va nhng kiu c phn u aikhac nh c quy inh trong cng ty c phiu). Voting preference shares can be ownedonly by government-authorized organizations and founding shareholders (C phn uai co quy n biu quyt chi c s hu bi nhng t chc c uy quyn cm quyn vac ng sang l p). Preference of voting will be effective for three years from the issuingdate of the business registration certificate (S u tin cua bo phiu se co hiu lc trong

3 nm k t ngay chng nhn ng ky kinh doanh ). After that, voting preference sharesof founding shareholders will be converted into ordinary shares (Sau iu o, nhng cphiu u ai co quyn biu quyt cua nhng c ng sang l p se c chuyn i vaonhng c phiu thng). However (tuy nhin), ordinary shares are not entitled (cphep) to convert into preference shares. Persons who are entitled to buy dividendpreference shares, redeemable preference shares or other types of preference shares willbe stipulated in the company charter or decided by the Shareholders General Meeting(Nhng ngi c phep mua c phiu u ai c tc, c phiu u ai co th chu c laihoc nhng loai khac cua c phn u ai se c qui inh trong Cty ban c quyn hayc quyt inh bi ai hi c ng). Shareholders of the same type will be given the

same rights, interests and obligations (Nhng c ng nh z y se c a cho nhngquyn li, nhng s quan tm, va nhng trach nhim nh z y).A partnership is a business in which two or more people own a company, work

together and share the profits or losers on an agreed basis ( Cty h p danh la DN trong 1hay nhiu hn 1 ngi s hu cty, lam vic cung nhau va chia se nh ng li nhun haymt trn cung 1 c s ng y thng nht). The partnership should begin with a legalagreement covering the various aspects of the business: how decisions will be made,profits will be shared, disputes will be resolved and how future partners will be admittedto the partnership (Cty h p danh cn phai bt u vi h p ng h p phap bao gm nhiukhia canh cua Cty: nhng quyt inh se c lam ra sao, nhng li nhun se c chiantn, nhng tranh chp se c giai quyt ntn, va lam th nao i tac tng lai chpnhn vao cty h p danh). Two important items that need to be covered are exactly whichassets each partner has to contribute as well as how the partnership can be changed orterminated (2 iu quan trong la cn bao trum chinh xac vi tai san ma thanh vin onggop tt nh vic lam th na o cty h p danh co th thay i hay hoan thanh). Thisagreement is called the articles of co-partnership ( thoa thun nay goi la iu l h pdanh). The partnership is not permitted to issue any type of securities and is given legalstatus from the issuing date of the business registration certificate ( Cty h p danh khng


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c phep phat hanh bt ky loai nao cua chng khoan, trai phiu va nhn c t cachphap nhn nao t ngay phat hanh giy chng nhn ng ky kinh doanh). There are sometypes of partnerships. A general partnership (thanh vin h p danh) is the partnershipformed (hinh thanh) with only general partners. That is, each partner is involved in theday-to-day operations of the business and he bears personal responsibility for the

liabilities of the partnership (Nghia la, mi thanh vin c bao gm trong hoat nghng ngay cua cty va ng ta mang nhng trach nhim ca nhn cho nhng mon n cua ctyh p danh). The general partnership is in contrast to a limited partnership which has atleast one general partner with unlimited liability and one limited partner with limitedliability (Cty h p danh noi chung trai vi nhng hi bun hun vn hu han ma co it nht1 thanh vin h p danh vi trach nhim v han va 1 thanh vin gop vn vi trach nhimhu han). The limited partnership is not often used for operating retail or servicebusinesses (Hi bun hun vn thng ko c s dung cho s vn hanh ban le hay kinhdoanh dich vu). Forming the limited partnership is more complex and formal than that ofa general partnership (Vic hinh thanh hi bun hun vn thi phc ta p va hinh thc hn

cty h p danh).A private enterprise is a business owned and operated by a single person (DNTNla mt DN c s hu va vn hanh bi 1 ngi). This single person can start a businessby simply purchasing the necessary goods and equipment and opening up a shop (Nginay co th kh i nghi p DN bng cach n gian la mua hang hoa cn thit va m 1 cahang). There are very few government and legal regulations to comply with (Co chinhphu va nh ng s iu chinh h p phap rt it). The private enterprise owner owns all theassets of the business, but he also has to supply all the capital, and his ability to borrow islimited to his personal amount of money and wealth (Chu nhn cua DNTN s hu tt catai san cua DN, nhng ng ta cung phai cung cp tt ca c phn, va kha nng cua ng ta

cho s vay mn gii han i vi tin va sc khoe ca nhn ng ta). The owner enjoys hisfreedom to make decisions about his business, but he alone takes the responsibility forincorrect choises (Chu nhn thich s t do lam nhng quyt inh v DN ng ta, nhngng ta mt minh chiu ly trach nhim cho nhng s la chon sai lm). He has the right tokeep all the profit of the business (ng ta co quy n gi lai tt ca l i nhun cua DN).However, if he suffers a loss, he still owns all the debts, and his legal liability to pay themmay be more than his investment in the business (Tuy nhin, nu ng ta bi thua l, ng taphai s hu toan b s n va nh ng trach nhim phap ly tra chu ng nhiu hn s ut cua ng ta trong DN). He must use his personal property to settle the debts of thebusiness if he goes bankrupt (ng ta phai s dung tai san ca nhn gia i quyt nhngmon n cua DN nu ng ta pha sa n). The private enterprise is not permitted to issuesecurities (DNTN ko c phep phat hanh nhng chng khoan trai phiu). Oneindividual is only permitted to establish one private enterprise (1 ca nhn chi c phepthit l p 1 DNTN).

The four types of legal organizations discussed in this lesson show differentstrengths and weaknesses (im manh va im yu). The best form for a particularenterprise mainly depends (phu thuc) on its capital requirements and the number ofowners.


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Unit 2. English E_Commerce