Comprehension Questions
1. What is the difference between a general partnership and a limited partnership?
2. Is there any difference between a silent partner and a secret partner? What is this difference?
3. In what professional fields are the partnerships found?
4. In what businesses is the partnership a common form?
5. What are the advantages of a partnership?
6. Discuss the disadvantages of a partnership. Would you prefer partnership or sole proprietorship of business? Give your reasons.
Vocabulary Practice
Exercise 1. Select the necessary word in the sentence.
1.Partnership very often receive...
from the government. | 1 secret partner
2. Limited partnership is a common | 2 unlimited
form of ownership in... | liability
3. Partnerships have many..., one is that |
they receive tax benefits from the |
government. |3 real estate
4....are the partners with unlimited |
liability. |4 general partner
5....has the authority in management but |
he is not known to public. |5 advantage
6. A secret partner takes part in... |6 profit
7. General partners have... |7 capital
8. One advantage of a partnership is that |
it offers a multiple source of... |8 management
9. A partnership can bring much... |
to the partners. |9 lax benefits
Dialogue
(Two friends Susan and Maurice; are having supper in a restaurant)
MauriceHaven'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? 1 went into business with her.
MauriceReally? How is it going on?
SusanFine, thanks. We get along very well, and the shop
is attracting more and more customers.
MauriceIt sounds well. How many partners are U -те in your
business?
SusanThere 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.
MauriceAnd you?
SusanYou know I always liked talking. I guess I am rather
good with customers. I enjoy selling things.
MauriceWell, it sounds interesting. I believe you don't run a
risk in your business.
SusanWe haven't had many problems, although 1 suppose
all business can be risky
MauriceDid you both put the same amount of money into your business? Do you mind my asking?
SusanNo, 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.
MauriceIt seems really so. That is one advantage or 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.
SusanIndeed.
MauriceHow did you arrange to distribute profits and losses?
SusanWe share them equally. We hope to be in business for long lime.
MauriceNice for you. Now you seem to know a lot about business.
SusanNot everything yet but the subject becomes quite technical.
MauriceI am glad to hear it. It's time to go now. Sec you later. Bye.
Active Vocabulary
to be busy with заниматься чем-либо
to go into business заниматься бизнесом
to get along well ладить друг с другом
to attract customers привлекать покупателей
to make a right choice сделать правильный выбор
background зд. рабочий опыт
accounting бухгалтерский учет
to run a risk рисковать
to be liable нести юридическую ответственность
amount of money сумма (количество) денег
to put an amount of money вложить сумму денег в
into business бизнес
to combine resources комбинировать ресурсы
advantage преимущество
to contribute services, skills делать вклад, содействовать умениям и навыкам
to distribute profits and losses распределять доходы и убытки
to share делить
the subject becomes quite это становится уже делом
textechnical техники
deal сделка
Vocabulary Practice
Exercise 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 of 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.
Exercise 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? 4.1magine 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?