2.3.7 Winding Up：（公司）解散 1. Classification:
1) Compulsory liquidations (voluntary liquidations, members’ liquidation)：自愿清算（解散）
2) Creditors’ liquidations：债权人的 清算
2.3.3 Creation of Corporation
4. Memorandum of Association
（P44）
1) In common law jurisdiction
a. Memorandum of association (articles of incorporation, certificate of incorporation)：公司组织大纲 Regulate the activities with the outside world; Needed to be filed.
2.3.5 Corporate Management
1. Directors：董事
Board of Directors：董事会
Executive directors：执行董事 Non-executive directors：非执行董事 Independent director：独立董事 The chief executive officer: CEO，首席执行官（总裁）
Chapter Two Law of Business Organization
企业组织法
Key Terms:
Business organization：企业组织 Partnership：合伙
Partners’ liability：合伙人责任
Limited partnership：有限合伙 Corporation：公司
general partners：一般合伙人
limited partners：有限责任合伙人
PE: Private Equity Fund：私募股权投资基金
2.3 Law of Corporntroduction Company: firm, business, association
b. Legal person (corporation)：法人
independent will：独立的意志
independent property：独立的财产 independent liability：独立的责任 limited liability to the shareholders C. Other business organizations: 1) sole proprietorship：个人独资企业 unlimited liability to the proprietor
2.The winding up process:
1）公司通过决议或法院发出命令解散公司； 2）指定清算人并移交公司控制权给清算人； 3）清算人变现所有公司资产，偿付公司债务。 公司资产不足以偿付所有债务时，按债务的 优先顺序清偿； 4）在支付清偿费用和支付所有债务后，如有剩 余公司资产，则根据公司章程将资产分配给 股东； 5）公司注销登记
公司，商行（号），企业
corporation：公司，法人 corporate：法人组织的 incorporated：组成法人组织的 incorporated company：法人公司 incorporation：法人，社团，公司
Corporation：法人，公司
a separate legal person or legal entity: 1) Corporate personality 2) Limited liability to its shareholders Key Legal Features of a Corporation: independent will：独立的意志 independent property：独立的财产 independent liability：独立的责任
Some Basic Civil Law Concepts:
1. Civil fact：民事法律事实 Civil act：民事法律行为 2. Civil legal relation：民事法律关系 3. Civil rights：民事权利 4. Civil liability：民事义务 5. Civil subject：民事主体 Capacity：民事权利能力 Competence：民事行为能力
Civil subjects: 民事主体
a. Natural person：自然人
Adults: full capacity and competence. Minors: full capacity, no or limited competence. Mentally ill person: full capacity, no or limited competence Unlimited liability to his debts or obligations.
2.3.6 Members’ Rights：股东权利
General meeting of stockholders：
股东大会
1) Voting rights：投票权 2) Rights to obtain a dividend：分红权 3) Rights to transfer their shares： 股份转让权 4) Rights to sue：起诉权 5) Rights of inspection：检查权
2) Partnership (firm)：合伙企业
unlimited liability to the partners
All partners are liable jointly to all debts or obligations of the partnership.
limited partnership: 有限合伙企业
2.3.4 Corporate Financing：公司的融资
1. Stocks (shares): 股份 ordinary shares：普通股 preference shares：优先股 2. Debt securities: 债券
Both of them are regulated by the Corporation Law and Securities Law
b. The by-laws (articles of association) 公司章程（公司组织细则） Regulate the company’s internal affairs
2) In civil law jurisdiction
The charter：公司章程 The company’s constitution.