X o r I j iy t I l L a r

T ask 2. Read and retell the text.
A company is, in general, any group o f persons (known as its members) 
united to pursue a c o m m on interest. The term is thus synonym ous with 
association, but more often it is used specifically to identify associations 
formed for profit, such as the partnership, the joint-stock company, and 
the for-profit corporation. A company is not necessarily a corporation, and 
thus may not have a separate existence from its members. A company 
might also not be able to sue or be sued in its own name, and thus would 
not be considered to be a legal person. Whether a company has either o f
these characteristics depend on the law o f the jurisdiction. In some 
jurisdictions, there is a m in im um for the number o f persons starting an 
association. Som e jurisdictions require that the association register with 
the police or other official body to inform the public o f the association’s 
existence. This is not necessarily a tool o f political control but much more 
a w a y o f protecting the economy from fraud. In many such jurisdictions, 
only a registered association is a legal person whose membership is not 
responsible for the financial acts o f the association. Any group o f persons 
may, o f course, w ork as an association but in such case, the persons 
making a transaction in the name o f the association are all responsible for 
it. Associations that are organized for profit or financial gain are usually 
called partnerships. A special kind o f partnership is a co-operative which 
is usually founded on one man - one vote principle and distributes its 
profits according to the amount o f goods produced or bought by the 
member.
T ask 3. Give you r idea on the top ic”
What is your definition o f “ consulting?”

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What is operations man ag ement?