Английский язык: Аннотирование и реферирование текста

52 Other disadvantages of a partnership are : • Having to share profits. • Possible limited life of a organization. • Difficulty in raising additional capital. • The difficulty in finding suitable partners – those with the needed skills may be incompatible, untrustworthy, or unwilling to share the responsibilities. What are the advantages of corporations? There are many advantages to the corporate form of business or- ganization. This is especially so if a large capital outlay is needed for machines, fixtures, or inventory at the outset. The corporation has lim- ited liability. This means that only the assets of the corporation, not those of the individual owners, can be used to pay creditors, that stock may become valueless. But the owner will not lose more than the value of his or her own stock. Only business assets may be used to pay corpo- rate debts. The corporation also finds it easier to raise money and obtain credit, because a corporation usually has many owners, and thus has a solid block of capital. This makes it easier to get credit. The corporate board can agree to issue new stock, however, can be done only if the owners want stock issued. Some other advantages of the corporation are : • A great variety of skills, abilities, and ideas are available. • The responsibilities of ownership can be transferred simply by selling your stock. • The corporation can continue to exist despite changes in owners. What are the disadvantages of corporation? The corporation also has disadvantages. It is more complicated and expensive to organize and run than the sole proprietorship and the partnership. It involves obtaining a charter. It involves having a Certifi- cate of Incorporation drawn up by a lawyer. The corporation can per- form only those activities stated in its charter. It may not engage in out