1. Partnerships very often receive... from the
government.
2. Limited partnership is a common form of ownership
in....
3. Partnerships have many..., one is that they receive
tax benefits from the government.
4.... are the partners with unlimited liability.
5.... has the authority in management but he is not
known to public.
6. A secret partner takes part in....
7. General partners have....
8. One advantage of a partnership is that it offers a
multiple source of....
9. A partnership can bring much... to the partners
Dialogue
a. secret partner
b. unlimited
liability
c. real estate
d. general
partner
e. advantage
f. profit
g. capital
h. management
i. tax benefits
Two friends, Susan and Maurice, are having supper in a restaurant.
Maurice: Haven't seen you for a long time. What have you been busy with?
Susan: I've been pretty busy. Do you know my friend Nora? I went into
business with her.
Maurice: Really? How is it going on?
Susan: Fine, thanks. We get along very well, and the shop is attracting more
and more customers.
Maurice: It sounds well. How many partners are there in your business?
Susan: There are two of us and I am very pleased about it. I've made a right
choice. Nora's background is in accounting. She is very good at
keeping the books.
Maurice: And you?
Susan: You know I always liked talking. I guess I am rather good with
customers. I enjoy selling things.
Maurice: Well, it sounds interesting. I believe you don't run a risk in your
business.
Susan: We haven't had many problems, although I suppose all business can
be risky. As partners we are both liable.
Maurice: Did you both put the same amount of money into your business?
Do you mind my asking?
Susan: No, we didn't invest the same amount of capital. But I think we've
combined our resources very well. I think it's good for both of us.
Maurice: It seems really so. That is one advantage of general partnership.
You can invest less capital than your partner - even no money at all.
But you as a partner can contribute important services or skills,
sometimes just a name or a reputation.
Susan: Indeed.
Maurice: How did you arrange to distribute profits and losses?
Susan: We share them equally. We hope to be in business for a long time.
Maurice: Nice for you. Now you seem to know a lot about business.
Susan: Not everything yet but the subject becomes quite technical.
Maurice: I am glad to hear it. It's time to go now. See you later. Bye.
Active Vocabulary
to be busy with
to go into business
to get along well
to attract customers
to make a right choice
background
accounting
to run a risk
to be liable
amount of money
to put an amount of money into
business
to combine resources
to contribute services, skills
to distribute profits and losses
to share
the subject becomes quite
technical
deal
заниматься чем-либо
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заниматься бизнесом
ладить друг с другом
привлекать покупателей
сделать правильный выбор
зд. рабочий опыт
бухгалтерский учет
рисковать
нести юридическую ответственность
сумма (количество) денег
вложить сумму денег в бизнес
комбинировать ресурсы
вложить умения и навыки
распределять доходы и убытки
делить
это становится уже делом техники
сделка
Vocabulary Practice
Ex.1. Transform the sentences according to the model:
Model: Susan is a woman. She does the books. Susan is a
woman who does the books.
1. Partners are people. They have unlimited liability.
2. This is my partner. He often runs a risk.
3. He is a shop-assistant. He gets along well with all the customers.
4. Susan is a partner. She puts a big amount of money into business.
5. Jean is my friend. She has the background in accounting.
6. Barbara is my partner. She knows how to attract customers.
7. Tom is a partner. He is good at selling.
8. Jack is my friend. He is a secret partner of my business.
9. Helen is my friend. She had supper with Jack in the restaurant.
Ex.2. Answer the questions:
1. What do you want to be busy with?
2. Do you want to go into business alone or with a partner?
3. With what partner do you get along well?
4. Imagine you run a shop. What will you do to attract customers?
5. Do you need to consult a lawyer to make a right choice when starting the
business?
6. What is your background?
7. Are you a careful person, or do you like to run a risk?
8. How can you combine the resources with your partner?
9. What services and skills can you contribute in your business?
10. How will you distribute profits and losses in your partnership?
11. What kind of partner would you like to be: a general partner or a limited
partner? Why so?
Ex.3. Translate into English:
1. Члены правления несут полную юридическую ответственность.
2. Партнер с ограниченной юридической ответственностью не имеет
реальной власти.
3. Секретный партнер принимает участие в управлении, но он не
известен общественности.
4. Я хочу вложить деньги в недвижимость.
5. Партнерство имеет много преимуществ.
6. Партнерство часто получает налоговые льготы от правительства.
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7. Мы хорошо ладим с партнером.
8. Наше кафе привлекает все больше и больше клиентов.
9. Я сделал правильный выбор. Это дело приносит много прибыли.
10. Мой рабочий опыт связан с менеджментом.
11. Она хорошо разбирается в бухгалтерском деле.
12. Мы вкладываем в дело одинаковый капитал.
Ex.4. Discuss the following problem:
A Joint Venture*: Pro and Contra.
* Совместное предприятие: за и против.
Ex.5. Make up the dialogue:
Consult the lawyer how to form a partnership. Use your active
vocabulary.
Grammar Exercises
Ex.1. Make the sentences negative:
Model: I am going into business.
I am not going into business.
1. Your business is receiving the tax benefits.
2. Your partnership is running the great risk.
3. We are getting along quite well with my partner.
4. They are going to be general partners.
5. The partners are sharing profits and losses with each other.
6. Their partnership is losing their profit every month.