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C1 · 46 words
Setting up and working for yourself in Italian
Legal form, articles, the register of companies, liability — the road from an idea to a registered company.
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From these 46 words, as many per round as you like — up to all of them: first what is due today, then new ones. First you choose, then you fill the gap, then you write it yourself. Mistakes come back again shortly.
More about this list The thirteenth entry is la procura , and an English reader arriving from a business page will almost certainly file it in the wrong department. « Procurement » is buying: contracts, suppliers, tenders. La procura buys nothing. It is the written authority by which one person acts in another’s name, so agire per procura is to sign on somebody else’s behalf, and the procura in this list is a document lodged at the register rather than a purchasing function. Italian keeps a second job for the word as well: la Procura della Repubblica is the public prosecutor’s office, because a prosecutor too acts for another party. What makes the trap worth remembering is that English owns the same word already. Behind all of them stands procurare , to see to a matter on another’s behalf. From it English made « procuracy », the mediaeval name for exactly what la procura is; and « procuracy », said quickly for four centuries, wore down into « proxy ». So somebody who votes by proxy is using the Italian word without recognising it.
The words
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Adjective (1)
Grammar for these: Adjective agreement · Where the adjective stands
cedibile transferable Adjective C1 Queste quote non sono liberamente cedibili. These shares are not freely transferable.
Phrase (2)
costituire una società to set up a company Phrase C1 Hanno costituito una società a maggio. They set up a company in May.
a scopo di lucro profit-making Phrase C1 Si tratta di un ente a scopo di lucro. This is a profit-making body.
Noun (f) (18)
Grammar for these: Definite article: il, lo, la · Indefinite article: un, uno
la forma giuridica the legal form Noun (f) C1 La scelta della forma giuridica viene prima di tutto. Choosing the legal form comes before anything else.
la quota sociale the share in a limited company Noun (f) C1 Le quote sociali non sono liberamente cedibili. The shares in the company are not freely transferable.
la società a responsabilità limitata the private limited company Noun (f) C1 La società a responsabilità limitata è la forma più diffusa. The private limited company is the commonest form.
la procura the power of attorney Noun (f) C1 La procura è iscritta nel registro. The power of attorney is entered in the register.
la camera di commercio the chamber of commerce Noun (f) C1 La camera di commercio rilascia la visura. The chamber of commerce issues the extract.
la visura camerale the extract from the register of companies Noun (f) C1 La visura camerale prova l’esistenza della società. The extract from the register proves that the company exists.
la ragione sociale the company name Noun (f) C1 La ragione sociale deve essere disponibile. The company name must still be free.
la segnalazione certificata di inizio attività the certified notice of commencement of business Noun (f) C1 La segnalazione certificata di inizio attività basta per partire. The certified notice of commencement is enough to start trading.
l’iscrizione all’INPS registration with the state social security institute Noun (f) C1 L’iscrizione all’INPS è obbligatoria dal primo giorno. Registration with the social security institute is compulsory from the first day.
la gestione separata the separate contribution scheme for the self-employed Noun (f) C1 I liberi professionisti versano alla gestione separata. Members of the liberal professions pay into the separate scheme.
la ditta individuale the sole trader’s business Noun (f) C1 La ditta individuale non ha personalità giuridica. A sole trader’s business has no legal personality of its own.
la responsabilità illimitata unlimited liability Noun (f) C1 La responsabilità illimitata tocca il patrimonio personale. Unlimited liability reaches the owner’s personal assets.
la fideiussione bancaria the bank guarantee Noun (f) C1 La banca chiede una fideiussione al socio. The bank asks one of the members to stand surety.
la previsione di fatturato the turnover forecast Noun (f) C1 La previsione di fatturato è prudente. The turnover forecast is a cautious one.
la clausola di gradimento the approval clause Noun (f) C1 La clausola di gradimento subordina la cessione al consenso. The approval clause makes any transfer depend on consent.
la cessione di quote the transfer of shares Noun (f) C1 La cessione di quote va fatta davanti al notaio. A transfer of shares has to be made before a notary.
l’assemblea dei soci the general meeting Noun (f) C1 L’assemblea dei soci si riunisce una volta l’anno. The general meeting is held once a year.
la cancellazione dal registro the striking-off from the register Noun (f) C1 La cancellazione dal registro chiude la vicenda. Being struck off the register closes the matter.
Noun (m) (25)
Grammar for these: Definite article: il, lo, la · Indefinite article: un, uno
l’atto costitutivo the instrument of incorporation Noun (m) C1 L’atto costitutivo è redatto dal notaio. The instrument of incorporation is drawn up by the notary.
lo statuto sociale the articles of association Noun (m) C1 Lo statuto sociale regola il funzionamento. The articles of association govern how the company runs.
il socio fondatore the founding member Noun (m) C1 Ogni socio fondatore detiene il venticinque per cento. Each founding member holds twenty-five per cent.
il conferimento in denaro the cash contribution Noun (m) C1 Il conferimento in denaro è versato in banca. The cash contribution is paid into the bank.
il conferimento in natura the contribution in kind Noun (m) C1 Il conferimento in natura richiede una perizia. A contribution in kind calls for an expert valuation.
il capitale sociale minimo the minimum share capital Noun (m) C1 Il capitale sociale minimo è di diecimila euro. The minimum share capital is ten thousand euros.
l’amministratore unico the sole director Noun (m) C1 L’amministratore unico rappresenta la società. The sole director represents the company.
l’organo amministrativo the management body Noun (m) C1 L’organo amministrativo può essere unico o collegiale. The management body may be one person or a board.
il collegio sindacale the board of statutory auditors Noun (m) C1 Il collegio sindacale vigila sulla gestione. The board of statutory auditors oversees the running of the company.
il registro delle imprese the register of companies Noun (m) C1 Il registro delle imprese è tenuto dalla camera di commercio. The register of companies is kept by the chamber of commerce.
il trasferimento di sede the transfer of the registered office Noun (m) C1 Il trasferimento di sede richiede una modifica statutaria. Moving the registered office calls for a change to the articles.
l’oggetto sociale the objects of the company Noun (m) C1 L’oggetto sociale delimita l’attività. The objects of the company set the limits of what it may do.
il libero professionista the self-employed professional Noun (m) C1 Il libero professionista fattura in proprio. A self-employed professional invoices in his own name.
il piano industriale the business plan Noun (m) C1 Il piano industriale copre i primi tre anni. The business plan covers the first three years.
il fabbisogno iniziale the initial funding requirement Noun (m) C1 Il fabbisogno iniziale supera i cinquantamila euro. The initial funding requirement is over fifty thousand euros.
il finanziamento soci the loan from the members Noun (m) C1 Il finanziamento soci integra il capitale. The loan from the members tops up the capital.
l’aumento di capitale the capital increase Noun (m) C1 L’aumento di capitale diluisce i vecchi soci. A capital increase dilutes the existing members.
il patto parasociale the members’ agreement Noun (m) C1 Il patto parasociale regola l’uscita dei soci. The members’ agreement sets out how somebody leaves.
il diritto di prelazione the right of pre-emption Noun (m) C1 Gli altri soci hanno diritto di prelazione. The other members have a right of pre-emption.
il verbale di assemblea the minutes of the meeting Noun (m) C1 Il verbale di assemblea è firmato seduta stante. The minutes of the meeting are signed before anybody leaves the room.
il quorum costitutivo the quorum needed to open the meeting Noun (m) C1 Il quorum costitutivo non è stato raggiunto. The quorum needed to open the meeting was not reached.
lo scioglimento the dissolution of the company Noun (m) C1 Lo scioglimento precede la liquidazione. Dissolution comes before the winding up.
il liquidatore the liquidator Noun (m) C1 Il liquidatore vende ciò che resta. The liquidator sells whatever is left.
lo stato di insolvenza the state of insolvency Noun (m) C1 Lo stato di insolvenza va dichiarato senza indugio. A state of insolvency must be declared without delay.
il concordato preventivo the composition with creditors Noun (m) C1 Il concordato preventivo blocca le azioni dei creditori. A composition with creditors stops them from enforcing their claims.
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