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

Task 3. Give yo u r idea on the top ic” What is excellent customer 
service?”

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What is quality?
Task 2. R ead and retell the text.
A corporation is an organization led by many people but treated by the 
law as though it were a person. It own property, pay taxes, make contracts, 
sue and be sued, and so on. It has a separate and distinct existence from 
the stockholders who own the corporatio n’s stock.. In order to form a 
corporation, its founders must do three things. First, they must register 
their company with the governm ent o f the state in which it will be 
headquartered. Second, they must sell stock. Third, along with the other 
shareholders, they must elect a board o f directors. Registering the 
Corporation. 
Every state has laws governing the formation o f
corporations, but most state laws are similar. Suppose that you and your 
partners decide to form a corporation. You will have to file articles o f
incorporation application with the state in which you will run your 
corporation. In general, these articles include four items: 1. Name, 
address, and purpose o f the corporation; 2. N a m e s and addresses o f the 
initial board o f directors (these men and women will serve until the first 
stockholders’ meeting, when a new board may be elected); 3. N u m b e r o f
shares o f stock to be issued; 4. A m o u n t o f money capital to be raised 
through issuing stock. If the articles are in agreement with state law, the 
state will grant you a corporate charter - a license to operate from that 
state. Selling Stock. To continue the example o f your electronic repair 
business, you could sell shares o f either c om m on or preferred stock in 
your new corporation. C om m on stock gives the holder part ownership in 
the corporation and voting rights at the annual stockhold ers’ meeting.