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Unit 3
What is a company ?
A
Types .
4. A limited-liability company.
"A companystatutorily authorized
in certain statesthat is
characterized by limited liability,
management by members or
managers, and limitations on
ownership transfer", i.e., L.L.C.
Vocabulary :
Hierarchical / pyramidal structure a
system, especially in a society or an
organization, in which people are
organized into different levels of
importance from highest to lowest
Superior a person ( in a society or
organization ) who is higher in rank,
importance or position
Subordinate a person ( in a society or
organization ) who has a position with less
authority or power than somebody else