Regulations in Company
To sue: to take someone to court in a legal disagreement.
They broke our contract and didn't pay, so we sued them and won.
She sued her employer for firing her, but she lost because they had the right to fire her.
Fill in the blanks:
We couldn't agree to her plan to avoid paying taxes, which was illegal, so she threatened to sue us.
To restrict: to put limits on something.
This is a restricted area, so stay away.
We need to restrict them from talking to anyone about our project.
Fill in the blanks:
We can't trust him, so we will have to restrict his activities until we know him better.
To negotiate: to deal with or bargain with others to reach an agreement.
Instead of starting a war, we should negotiate and find a way to compromise.
We are trying to negotiate a better deal, but it isn't easy.
Fill in the blanks:
He never wants to negotiate, so he has lost several important customers.
Responsible for or responsible to: to be responsible for something means to have the job of getting it done or taking care of.
If you are responsible to someone, it means that you are working under their control.
Fill in the blanks:
He is responsible to the CEO, so he can't sign the contract without her final approval.
Oversee or supervise: to control or direct a process or project.
One of his responsibilities was to supervise the rescue operations and keep things under control.
As product manager, she oversees the work of several departments.
Exercises:
1. Their new project is behind schedule because nobody oversees how the departments work together.
2. If you have a legal disagreement, you have to sue.
3. To deal with or bargain with others to reach an agreement —— to negotiate.
4. To be responsible for something means to have the job of getting it done.
5. She sued her employer for firing her, but she lost because they had the right to fire her.
6. Instead of starting a war, we should negotiate and find a way to compromise.
7. One of his responsibilities was to supervise the rescue operations and keep things under control.
Repeat & Read Sentences:
1. This is a restricted area, so stay away.
2. He never wants to negotiate, so he has lost several important customers.
3. We have many responsibilities, but she is the one responsible for product development.
4. When she asked for an extra payment, we refused because it was illegal and she could have sued us.
5. Instead of starting a war, we should negotiate and find a way to compromise.
6. If something is confidential, you should restrict access to it.
Business Terms
To merge: to combine or come together.
Those two companies used to be competitors, but now they have merged into one company.
When the two companies merged, many people were laid off.
Fill in the blanks:
When two companies merge, there are often many problems, including layoffs.
To acquire: to buy or take possession.
Some big companies grow by acquiring other companies.
One way to protect your business is to acquire your competitors.
Fill in the blanks:
We need to acquire new technology as soon as possible because we are out-of-date.
An agenda: a plan or list of items to be discussed at a meeting.
The agenda for the meeting is still unclear.
What are the main points on the agenda for the meeting?
Fill in the blanks:
There are too many items on the agenda, so we need to cut it down and focus on fewer things.
A contract: a written document that defines the rules in a relationship.
A contract isn't usually useful until things begin to go badly in a relationship.
According to our contract, their first payment is due next week.
Fill in the blanks:
It took a long time to agree on a contract because their lawyers kept finding issues that kept us apart.
Assets and liabilities: assets are what you own and liabilities are what you owe.
Knowing the assets and liabilities of a company helps determine a company's value.
The company had more liabilities than assets so we decided not to invest.
Exercises:
1. Their assets were rapidly increasing in value each year, so we decided to invest.
2. To combine or come together —— to merge.
3. To buy or take possession —— to acquire.
4. A written document that defines the rules in a relationship —— a contract.
5. What you own, including money and property —— your assets.
6. What you owe, including debts and obligation —— your liabilities.
7. Knowing the assets and liabilities of a company helps determine a company's value.
8. A contract isn't usually useful until things begin to go badly in a relationship.
Repeat & Read Sentences:
1. When the two companies merged, many people were laid off.
2. What are the main points on the agenda for the meeting?
3. When two companies combined into one, it's called a merger.
4. They have to pay a huge tax penalty, so they have lost value due to the increase in their liabilities.
5. He may have a hidden agenda that hides his real plan, so let's be careful what we say at the meeting.
6. We don't know what's on his agenda, so we need to be careful what we say.
7. If a company borrows a lot of money, it's increasing its liabilities.