LECTURE No. 5. Forms of business organization

1. Forms of business organization

Forms of business organization These are the ways entrepreneurs organize their business, the ways they interact with each other.

Forms of business organization are subject to legal formalization and are called organizational and legal.

Forms of business organization depend on the form of ownership.

Property - this is a certain form of appropriation of material values, services and means of production. The property has legal and economic aspects.

Legal aspect expressed in property relations, which are determined by the Constitution of the Russian Federation and other laws. To property relations include: right of possession, right of disposal and right of use.

Ownership is entry into the rights of inheritance, purchase, donation of property. The entry into the right of possession must be supported by documents: a will, a bill of sale, a deed of gift.

Right of disposal means the disposal of property at the discretion of its owner. The owner has the right to sell, lease or use the property himself. If the property is to be sold, the right of disposal is exercised by the owner once. The buyer becomes the full owner. When transferring property for rent, the ownership passes to its temporary owner.

Right of Use gives the owner of the property the opportunity to use it at their own discretion, depending on the purpose. For example, parcels of land can be used for growing crops, for mining, and for various types of buildings.

Otherwise, the land may be leased. In the case of transfer of property for rent, the terms of the lease and the rent are negotiated. Money capital can be used as investment resources (investment in production), as financial transactions in the stock markets. If the property is leased, the temporary owner has the right to receive income from this property, but does not have the right to change the form of its use (rebuild, start).

The economic aspect of ownership consists of three types of economic relations: appropriation, economic realization and economic use of material values.

Assignment is an economic form of relations, which consists in the use of the right to own property. Simultaneously with appropriation, the process of alienation takes place.

The objects of alienation are land, capital, natural resources, means of production. The documentary basis for confirming the alienation may be a contract for the purchase of products or an employment contract in the case of using the labor of employees. As a result of the assignment, a legal entity, called the owner, appears.

Economic realization is the ability to make a profit when using property. In this case, the property is a source of income. The amount of income depends on how the property is used. This may be the use of capital for the production and further sale of goods, resulting in income. In the case of leasing property, the owner receives rent, and in the case of capital investment in financial transactions, the owner receives interest income. The sale of property is a one-time sale. In this case, the income is the selling price of the property.

There are several types, types and forms of ownership.

Depending on the degree of belonging property is divided into private and public.

Depending on the form of alienation and appropriation, property is divided into two types: working and non-working.

Private property is the appropriation of property by individuals.

Private property includes:

1) private property and personal savings;

2) private enterprises and firms;

3) households that are used for personal consumption.

Private property can be labor and non-labor.

Labor private property is founded on the appropriation of income received as a result of the production and sale of products obtained by one's own labor. The subject of labor private entrepreneurship is an individual who uses his funds to generate income. This type of private enterprise is successful due to the direct interest of a person in labor for the sake of maintaining and improving personal well-being.

Unearned private property represents the appropriation of the results of the work of employees. Unearned property contributes to the emergence of economic dependence of workers on the owners of the means of production. The form of non-labour property gives rise to exploitative, feudal and capitalist forms of property. The inefficiency of these forms lies in the fact that the workers are not interested in preserving and increasing this property.

In the process of development of society private property has taken on new forms: individual, partnership and corporate private property. These types of property are the basis for the formation of special types of economy.

Individual private property is a form of ownership that belongs to one owner. It can be a small individual farm, which is served by family members, or it can be a large one, owned by several individuals.

Partner property presented in the form of property owned by business partnerships or firms based on partnerships on shares. People who have contributed shares of their property to the total capital of the firm are co-owners of the firm and receive a profit depending on the size of their contribution.

Corporate property belongs to a group of persons who are founders of corporations. Corporations include joint-stock companies, the founders of which combine their investments in start-up capital and are the owners of the company's shares.

There is another form of ownership - intellectual property. This form has a special feature - individualism. Owners of intellectual property have the right to own and dispose of their inventions, knowledge, scientific information, and outstanding achievements in the field of culture and art. In the case where the author of an invention is not one, but several people, intellectual property becomes collective.

Public property is jointly owned by the collective or society as a whole. Depending on the level of its socialization, property is divided into state (national) and collective.

Labor type of public property can represent such forms of ownership as: family, corporate, joint-stock, property of economic partnerships.

Unearned type of public property represents state property, which is based on the appropriation by the state of the results of the labor of employees or the property of joint-stock companies, concerns and other companies that use the labor of employees.

State property is a form of ownership that belongs to enterprises and unitary organizations. The state bears property responsibility for state-owned enterprises, but is released from responsibility for unitary enterprises (SUEs), which are under the full economic control of the labor collective. Unitary enterprises are responsible for their actions with their property.

State property is divided into federal property, property of subjects of the federation and municipal property.

К federal property include objects that ensure the security of the country, are the basis of the economy, as well as objects of federal government and authorities.

municipal property belongs to rural and urban settlements.

Ownership is divided into common shared and joint.

Shared ownership - this is the property that has arisen as a result of the combination of shares of individual participants in the property. The profit received as a result of the use of shared ownership is distributed among the participants depending on the share contributed by them. Common shared ownership is represented in production cooperatives, business partnerships, joint ventures. Joint property is the common property of the collective. There are no property shares in joint ownership, and the profit received is distributed either in equal shares or in accordance with the labor contribution of the participants.

There is another form of ownership - personal property. This form provides the right to own personal items.

Personal property is not a source of income, its function is the ability to satisfy the personal needs of people. Items of personal property may be household items, clothing, shoes, furniture and others.

In Russian legislation, the following forms of business organization are distinguished:

1) business partnerships: full and limited;

2) companies: limited liability and joint-stock companies;

3) state and municipal enterprises.

2. Business partnerships

Business partnerships called associations of entrepreneurs for joint business.

The participants in the partnership unite their shares of property, which form the common capital. Contributions to business partnerships can be cash, securities, property assets. The profit received in the process of selling industrial goods is distributed among the participants depending on the size of their share contribution. Participants take part in decision-making on issues related to the activities of the partnership in accordance with the amount of the equity contribution. The share of the deposit has its nominal and book value. The nominal value is equal to the value of the share at the time of its contribution to the common capital of the partnership, and the book value is equal to the amount of capital that falls on shared ownership.

Such collective entrepreneurship has more opportunities than individual entrepreneurial activity.

The partnership in most cases is formalized as an enterprise. According to the Civil Code of the Russian Federation, business partnerships are the main form of creating legal entities - commercial organizations. Commercial organizations differ in that their main goal is to make a profit.

Organizers of business partnerships make a certain contribution and are called founders. Their first contribution to the partnership is called statutory.

Members of the partnership have the right to manage affairs, keep records, have access to information about the activities of the partnership (enterprise), participate in the distribution of profits between the founders. If the partnership breaks up, its participants have the right to divide the remaining property among themselves.

In addition to the rights, the participants also have obligations, according to which they are obliged to follow the requirements of the constituent documents, not to distribute confidential information, keep commercial secrets, make deposits and contributions in a timely manner, as provided for by the rules.

The property of the partnership is the fixed assets that are in use and at the disposal of the partnership. It can be structures, buildings, equipment. In addition, assets are current assets, which include stocks of materials, raw materials, as well as products, money capital and other valuables.

Business partnerships that do not have a legal status are partnerships based only on an agreement of equal persons, each of which is a participant in a common cause and is responsible for the results with its property. Such a partnership is not legally registered and is not a single enterprise, it does not have its own name and charter.

There is a property liability of the participants in the partnership, depending on which partnerships are divided into two types: limited (based on trust) and full partnership.

3. General partnership

A general partnership is created on a voluntary basis. Participants of a general partnership enter into an agreement and conduct business activities on a joint basis.

A characteristic feature of a general partnership is property responsibility of its participants for how they fulfill their obligations. If debts arise in the process of entrepreneurial activity, the participants in the partnership are liable for this not only with the property contributed to the formation of a general partnership, but also with their personal property.

The property united to create a partnership is a common shared property, which belongs equally to all participants in the partnership. This means that each participant is entitled to a share, which is expressed in the monetary or property value invested by him in the partnership.

A general partnership has certain rights, as it is a legal entity. This is an independent company that acts as a subject of economic activity. As a legal entity, a partnership may be brought to court as a defendant, as well as file a lawsuit as a plaintiff.

A general partnership has its own name, which is registered in the register of owners, is in interaction with authorities and other partnerships engaged in economic activities.

Members of a general partnership assume obligations that consist in managing the activities of the company. Members of a partnership are allowed to be members of only one partnership.

All members of the partnership have the right to be jointly and severally liable. Each participant has the right to independently manage the affairs of the company, interact with other partnerships or government organizations. Given these circumstances, it can be assumed that the partnership should include people who fully trust each other. Each participant must be sure of the honesty of his partners and the correctness of their actions.

When organizing a general partnership, the agreement concluded between its participants must be carefully thought out, worked out, and approved by all members of the partnership. When negotiating the contract, the abilities of each participant are taken into account in order to avoid independent actions of people who are incompetent in certain matters. The correct drafting of the contract ensures the protection of the interests of all participants in the partnership and prevents the danger of possible damage. In drawing up the contract, the participation of lawyers, economists and other specialists who can be useful in the course of the partnership's activities is very important.

General partnerships have become widespread in Russia, despite the fact that they are a rather risky form of entrepreneurial activity.

When deciding to organize a general partnership, its participants must assess the degree of entrepreneurial risk and correctly calculate their chances for the success of the planned enterprise. If all employees fully trust each other and have a high level of responsibility, this makes it possible to obtain a loan from a bank secured by the personal property of the participants. If members of a future partnership take such a bank loan, they need to legally resolve the issue of dividing their property and the property of other members of their family in order to avoid losing all the property and money of the family in the event of bankruptcy of the general partnership.

4. Individual entrepreneurship

Individual Entrepreneurship is the simplest form of business organization, which is formed with the help of family and individual property.

Individual entrepreneurship is divided into two forms: family private enterprise and individual labor activity.

Family run private enterprise in the course of its activities, it uses not only the labor force of family members, but also resorts to the use of hired workers.

Self-employment limited to the work of the entrepreneur and his family members.

In individual entrepreneurship, the businessman acts independently, and the forms of organization are established by him.

In 1994, the state registration of individual entrepreneurship was put into effect, provided for by the new Civil Code of the Russian Federation.

There is registration of entrepreneurship and its registration as a legal entity in the form of a company.

The firm acts as an independent business entity.

A firm or enterprise is organized in accordance with the current legislation, produces products, and also performs various services to meet the needs of the population.

Firms can be diverse in their organizational structure, scale, scope and profile of activity.

For all types of firms, there are legislative norms, according to which their activities are regulated.

5. Limited Liability Company (LLC)

Limited Liability Company is a commercial organization established by one or more persons, having its own charter and memorandum of association.

A limited liability company combines persons who form authorized capital through contributions from members.

Contributions of participants can be of various nature. This may be personal property, land, transport and other individual property. The charter of the company determines the property that cannot be a contribution to the authorized capital.

The authorized capital is divided into shares, their size is determined in the founding document. Members of the company are liable only within the limits of their contributions to the authorized capital, therefore, liability is considered limited. In this case, the entrepreneurial risk for the company's participants is limited to the amount of their contribution. In the event of the ruin of a society, its members lose only their share invested in the common capital. This is an important advantage in the unstable situation of the Russian economy. The disadvantage of this form of ownership is that when leaving the company, the participant has the right to take his share from the total capital. The authorized capital of a limited liability company consists of equity contributions that have a nominal value. The size of the share contribution can be determined in percentage terms. According to the Law "On Limited Liability Companies", the size of the authorized capital is established. The size of the authorized capital must be at least 100 minimum wages established by law at the time of registration of the company.

By the time of registration of a limited liability company, the founders are required to pay at least half of the authorized capital. The founders are obliged to pay the remaining part of the authorized capital during the first year of the existence of the company. The volume of the authorized capital may be increased at the expense of additional contributions of the company's participants or at the expense of public property. The property that is transferred to the authorized capital of the company becomes the property of the company. Members of the company have rights that allow them to participate in the management of the company's activities, receiving a share of the profits received as a result of the activities of the limited liability company. Participants have the right to transfer their share of the property to another person. In the event of the collapse of the society, the participants have the right to receive part of the property remaining after the payment of loans and tax deductions.

Being a legal entity, a limited liability company is obliged to act in accordance with its charter and memorandum of association accepted by the participants of the company. The name of the company must indicate the organizational and legal form (LLC).

Legal entities that are part of the company retain their rights and independence.

The authorized capital may have a minimum allowable size, which makes it possible for novice entrepreneurs to start their own business with a small starting capital. Limited liability companies can be organized as family firms, enterprises that bring together business partners who are in constant business contact and mutually interested in the success of a common cause.

The Civil Code of the Russian Federation establishes a law on the maximum number of participants in a limited liability company, which they are not entitled to exceed. If the number of participants exceeds the limit, the company will be subject to transformation into a joint-stock company.

Limited liability companies consist of a small and constant number of participants who have rights, the amount of which depends on the amount of funds invested by them. Members of the company have the right to receive their share of the profit, which can be distributed among them once a year, once every six months or once a quarter.

The participants of the company have the right to transfer their share in the common capital to other legal entities or individuals, having informed other members of the company in advance and having received their consent. The charter of the company fixes the procedure for the transfer of deposits from one owner to another. Each member of a limited liability company may freely leave the company.

The established limited liability company is designed to bring profit to its participants. It is necessary to control that the value of monetary and property resources is not lower than the value of the authorized capital. If this happens, i.e., the value of net assets falls below the value of the authorized capital, the company is liquidated.

6. Joint stock companies

The most common form of business organization are joint-stock companies.

Joint-stock company - this is a business company, which is an association of participants (shareholders) who have invested their shares in the form of a certain number of shares.

The authorized capital of a joint-stock company consists of the nominal value of the shares, which must be the same. The size of the authorized capital must be at least 1000 minimum wages in an open joint stock company and at least 100 minimum wages in a closed joint stock company. The shares of the company must be paid by the participants within a year from the date of registration of the joint-stock company. Shares can be sold, transferred to another person, but they cannot leave the company together with their owner.

The capital collected in cash in the form of shares is called share capital. It is not a separate property of its members, but the property of the joint-stock company as a whole.

Promotion - this is a security that indicates that its owner has contributed his share in the capital of a joint-stock company. The share gives its owner the right to receive profit (dividends), as well as to participate in the management of the company. Shares are divided into preferred and ordinary.

Ordinary shares provide an opportunity to receive profit remaining after the payment of dividends on preferred shares, the opportunity to vote at shareholder meetings, to participate in the election of the board.

Preference shares give the right to a fixed, fixed dividend, the right to priority dividends, but do not give the right to vote at shareholders' meetings. Shares can be sold, bought, donated, given in the form of a pledge. Only a shareholder with a controlling stake can have a significant influence on the management of the company. Joint-stock companies are divided into open and closed. Open joint stock companies may be formed from limited liability companies in which the number of participants exceeded the number established by the law on companies of this type. Shares owned by an open joint stock company have the right to free sale. They can be distributed both among individuals and among enterprises and banks. Shares of a closed joint stock company do not have the right to free sale. They can be distributed only among the employees of the joint-stock company.

The company has the right to distribute shares only after full payment of the authorized capital. The value of the issued shares must not exceed the value of the authorized capital.

The payment of dividends on shares can be carried out based on the results of a quarter, half a year or a year. The source of payments is the net profit of the final period, reserve funds for payments on preferred shares in case of a lack of profit. If the company has not made a full payment of the authorized capital, it does not have the right to make decisions on the payment of dividends on shares. This is fixed in the Law "On Joint Stock Companies".

The meeting of voting shareholders is the supreme governing body of the joint-stock company, it elects the governing bodies: the board of directors, the audit commission, the board. The management of a joint-stock company is actually carried out by hired specialists (lawyers, managers, economists, etc.).

The joint-stock company is the owner of the property belonging to it, which includes material, property, intellectual values. Shareholders are owners only of their securities - shares, not being owners of the property of the joint-stock company. Property can only be disposed of by the company represented by its governing bodies.

The number of members of a joint-stock company is not a constant value, it may vary depending on the sale and purchase of shares.

When creating a joint-stock company, potential shareholders should be provided with information about the scope and goals of the future company, the amount of expected income. Attracting funds from individual investors is facilitated by advertising campaigns that provide the necessary information about the proposed activities of the joint-stock company.

In the modern world of business, such organizational forms of joint-stock companies as holding companies, investment funds and others have been formed. The holding company is the holder of a controlling stake in several joint-stock companies and has the ability to control the capital owned by these companies. Investment funds also concentrate the funds of individual investors and buy shares in other companies, while acquiring the ability to manage these companies in accordance with their interests.

An important role is played by the legislative regulation of the state, which takes into account the interests of society when establishing the rules for the behavior of market entities.

7. Companies with additional liability

An additional liability company is a company founded by one or more participants who have pooled their contributions to a common authorized capital.

The authorized capital is formed from the shares of the company's participants. Members' shares have a nominal value. The authorized capital of an additional liability company has an equity division, the size of the shares is determined by the constituent documents.

The members of this society are liable with their own property in accordance with the amount of their contribution. When organizing a company with additional liability, constituent documents are created in the form of an agreement and a charter, which fix the obligations and rights of participants.

According to the founding documents of the company, in the event of the bankruptcy of one of its members, its responsibility is redistributed among the remaining members of the company, depending on the value of the funds invested by them.

8. Limited partnerships

Limited partnership is an intermediate form between a general partnership and a limited liability company. A limited partnership is called a limited partnership.

In a limited partnership, entrepreneurial activity is carried out by participants who are liable with their property for the obligations of the charter of the partnership.

Limited partnerships may include several legal or civil entities that conclude an agreement with each other for the purpose of jointly conducting economic activities. Participants in limited partnerships are divided into contributor members (limited partners) and general partners (complementary partners).

Members-contributors (limited partners) bear limited liability, responding only to their share invested in the common capital. They do not take part in the management of the company's business activities. Full members bear full responsibility with all their property.

Each participant in a limited partnership is obliged to contribute to the common capital. Members-contributors are only entitled to receive profits, not being able to take part in the management of the partnership. General partners have the right to manage the partnership.

A limited partnership as an organizational and legal form was formed in 1991 and is not yet widespread.

The partnership may include a minimum number of participants, starting from two people, one of whom must be a contributing member and the other a general partner. This form of business organization can be convenient for bringing together rich people who are ready to invest in a profitable business, and people who are poor but have promising ideas.

9. Cooperatives

Cooperatives - this is a form of business organization, which is created on the basis of combining the shares of cooperative members into the authorized capital.

Cooperatives are created to carry out joint production or economic activities.

The work of the cooperative uses the personal labor participation of its members. At the time of the organization of the cooperative, a charter is created and approved.

During the years of Perestroika, production cooperatives were organized, which were created on the basis of property shares and labor participation of members of the cooperative.

In their organizational and legal form, cooperatives are similar to a limited liability company in that they are organized on a shared basis of their members and the sources of their income are income received from the sale of products or other activities. The governing body of both forms is the general meeting, and the executive body is the board. The mechanism of creation, their registration and the content of the statutes are also similar.

The differences between cooperatives and limited liability companies are casting votes in voting at a general meeting. Members of a cooperative have only one vote, regardless of the size of the share they contributed, and in a limited liability company, casting votes are distributed depending on the size of the contribution of the participants in the partnership. The second difference is that the amount of income of members of the cooperative does not depend on the amount of their contribution, and the income of participants in the partnership directly depends on the amount of their share contribution. The next difference is the different composition of their founding documents.

In Russian business, there is such an economic structure as small enterprises. Small enterprises are independent organizations with a simple structure and a small number of production participants. Despite this, they are capable of high development, participate in the creation of new jobs, and create healthy competition in the market.

Small enterprises can be created in various forms of business organization: partnerships, joint-stock companies, limited liability companies, as well as on the basis of other forms.

Small businesses are an unsustainable form of business and have existed for about five years. After this period, a small business can be transformed into a more sustainable form of business organization.

10. Municipal and unitary enterprises

Municipal and unitary enterprises are state-owned enterprises in which a controlling stake is owned by the state and are on its balance sheet.

Unitary enterprises (SUEs) are transferred by the state to the full economic ownership of the labor collective. At the same time, the state does not bear any responsibility for the activities of the enterprise created by it. The enterprise itself bears property responsibility for the actions performed by it in the course of economic activity.

municipal enterprises belong on the property rights to rural or urban settlements, or other municipalities. Management and responsibility for property objects is assumed by the administration of the city or village.

Unitary and municipal enterprises are classified as state budget enterprises. They are part of a specific ministry, body or department of local government. The heads of enterprises are appointed by state bodies, and the personnel are classified as civil servants. The state provides them with subsidies and subsidies, guarantees the supply of semi-finished products and raw materials from other state-owned enterprises. State enterprises are large and are created in industries that require a large investment of capital, as well as the most significant for the state economy. These include railway transport enterprises, aerospace complex, energy enterprises and others.

11. Public and religious organizations

Public and religious organizations refer to non-profit organizations whose members are only individuals. Being members of public and religious organizations, citizens do not receive any material income or profit. Such organizations are created to meet the spiritual needs of their members. Donating any material resources in favor of the organization, its participants cannot claim them back in case of withdrawal from it, and also do not have the right to distribute the balance of property upon liquidation of the organization. Members of public and religious organizations are relieved of liability for the debts of these organizations, just as organizations are not liable for the debts of their members. Incomes received in the course of the activities of public and religious organizations go to the needs of their founders.

Public and religious organizations have their own statutes and laws, in which property issues must be clearly resolved in accordance with the goals facing these organizations.

Community organizations - these are associations created by individuals with a number of at least ten people on the basis of common interests. The goals for the creation of public organizations may be: protection of the rights of citizens (social, civil, political, cultural and others), participation in charitable events, sports competitions, management of public affairs, cultural development, health programs, nature conservation and other socially useful activities.

When creating public organizations, a general meeting is convened, at which the leaders are elected by the participants of the future organization, and constituent documents (charter or regulations) are adopted.

Incomes received in the course of the organization's activities are used to achieve its goals.

Public organizations can be various political, children's, youth, sports, cultural and educational organizations, creative associations, disabled people's organizations, charitable organizations and other associations.

Religious organizations - these are voluntary associations of individuals who have reached the age of majority for the purpose of confessing, performing various religious rites, worship, conducting sermons, religious education and religious enlightenment.

Religious organizations have their constituent documents in the form of statutes and regulations.

Religious organizations include religious institutions, centers, theological seminaries, religious associations (local, central, regional).

12. Associations of entrepreneurs. Associative forms of business organization

Associative forms of business organization are the association of enterprises or firms into aggregate structures.

Associative forms include the following types of associative structures:

1) corporations;

2) business associations;

3) concerns;

4) consortia;

5) holding companies;

6) cartels;

7) syndicates;

8) trusts.

1. Corporation is a joint-stock company that combines several companies with common business goals.

A corporation is a legal entity that is responsible for all the enterprises that are part of it. Among corporations, there are both large-scale and small-scale public corporations.

2. Business associations is an association of organizations and enterprises, which is created on the basis of an agreement in order to coordinate common activities and perform similar functions. Members of business associations have the right to be members of other associations.

3. Concerns are an organizational form of association of enterprises, which is in the nature of monopolies and allows you to use the possibilities of large-scale production.

4. Consortium is an association of organizations, enterprises, which is created on a voluntary basis and is temporary. The consortium is organized to carry out major projects in ecology, science, technology, and the social sphere. The consortium uses financial and material resources, personnel and capacities of the organizations that are its members. The consortium may include organizations of various sizes, which conclude an agreement with each other. Consortium participants have the right to be members of other consortiums at the same time.

5. Holding companies have their own difference from other associative forms, which lies in the fact that they control other companies by appointing their directors, as well as by owning their money and shares. Despite the fact that the enterprises included in the holding associations are independent, the holding is able to exert a great influence on their economic and commercial decisions. If necessary, the holding has the right to redistribute funds belonging to the company's participants, as well as perform certain functions related to the company's activities.

6. Cartel is an association of legally independent enterprises on a contractual basis, which is engaged in the marketing of products manufactured by these enterprises.

7. Syndicate is a form of association of enterprises to organize the procurement and supply of raw materials to these enterprises, and the marketing of their products. The syndicate may include trusts, concerns, enterprises that are legally independent organizations. From the moment of joining the syndicate, the commercial independence of its participants is lost, while the production independence is partially preserved.

8. Trusts - this is a form of association of enterprises in which the participants in this association completely lose their commercial, industrial and legal independence, while being subject to a single management. In Russian entrepreneurship, this form is used in the construction business.

There are structural specific forms of business organization that have not yet become widespread in the Russian economy, but are actively used in the practice of developed capitalist countries. These include: offshore companies, trust companies, franchisors.

In Russian practice, the creation of branches and subsidiaries of large firms and enterprises has become widespread. These enterprises are legally independent, but are in close financial, industrial and technological connection with the main enterprise.

International business companies are engaged in business transactions such as imports, exports and placement of capital abroad. Companies that have foreign branches, registration in several countries and are engaged in the distribution of their shares on the stock exchanges of the world are called transnational.

Authors: Egorova E.N., Loginova E.Yu.

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Random news from the Archive Named the new height of Everest 09.12.2020 The heads of China and Nepal, Xi Jingping and Bidhya Devi Bhandari, officially announced the new height of Everest. "I would like, together with President Bhandari, to officially announce to the world on behalf of China and Nepal that the height of Everest is 8848,86 meters," the Chinese leader said in a letter. Earlier Tuesday, a video conference was held with the participation of the foreign ministers of the two countries, at which new data obtained by Nepalese and Chinese researchers were announced. The Department of Geodesy of the Ministry of Land Management of Nepal assures that the measurements are accurate to the centimeter. The error of the new data on the height of Everest, obtained by comparing data from the GPS and Beidou satellite systems, is plus or minus two cm. Recall that an agreement on the joint measurement of Everest was reached last year during Xi Jinping's visit to Nepal. Such a need arose after the assumptions of a number of scientists that the mountain could have decreased due to earthquakes in 2015. Nepal and China disagreed over the height of Everest back in 2015. Countries called different heights of the peak and because of this they could not sign the border protocol.

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