Partnerships

A partnership is an association of two or more persons to carry on a business for profit. When the owners of the partnership have unlimited liability they are called general partners. If partners have limited liability they are limited partners. There may be a silent partner as well – a person who is known to the public as a member of the firm but without authority in management. The reverse of the silent partner is the secret partner – a person who takes part in management but who is not known to the public.

Any business may have the form of the partnership, for example, in such professional fields as medicine, law, accounting, insurance and stockbrokerage. Limited partnerships are a common form of ownership in real estate, oil prospecting, quarrying industries, etc.

Partnerships have more advantages than sole proprietorships if one needs a big capital or diversified management. Like sole proprietorship they are easy to form and often get tax benefits from the government.

Partnerships have certain disadvantages too. One is unlimited liability. It means that each partner is responsible for all debts and is legally responsible for the whole business. Another disadvantage is that partners may disagree with each other.

Vocabulry

partnership партнерство

to carry on a business вести дело

profit прибыль

general partner общий партнер

limited partner партнер с огран. юрид. ответственностью

silent partner партнер без права голоса

secret partner секретный партнер

law юриспруденция

insurance страхование

stockbrokerage биржевое маклерство

real estate недвижимость

oil prospecting добыча нефти

quarrying industries добывающие промышленности

advantage преимущество

disadvantage недостаток

to be legally responsible быть юридически ответственным

I. Закончите предложение в соответствии с основной темой.

The text is about …

a) the differences between partnerships and sole proprietorships;

b) similarities between partnerships and sole proprietorships;

c) what a partnership is, its structure, its advantages and disadvantages.

II. Выберите предложение, соответствующее содержанию текста.

a) Limited partnerships are a rare form of ownership in real estate, quarrying industries, etc.

b) Limited partnerships are a common form of ownership in services industries;

c) Limited partnerships is a common form of ownership in real estate, quarrying industries, etc.

III. Выберите вариант завершения предложения в соответствии с текстом.

There may be a silent partner …

a) a person who is not known to the public;

b) a person who is known to the public;

c) a person who has unlimited liability.

IV. Выберите правильную форму глагола.

Any business … the form of the partnership in law, medicine, accounting.

a) must have;

b) has;

c) may have.

V. Выберите английский эквивалент данным словам.

1) ассоциация 2) вести дело

a) organization; a) to run a business;

b) society; b) to carry on a business;

c) association; c) to have a matter;

3) прибыль 4) полномочие

a) benefit; a) right;

b) income; b) authority;

c) profit; c) power.

VI. Заполните пропуски предлогами, где это необходимо.

A silent partner is a person who is known … the public as a member … the firm but … authority in management.

a) for, like, with;

b) in, at, without;

c) to, of, without.

VII. Выберите правильный вариант перевода.

It means that each partner is responsible for all debts and is legally responsible for the whole business.

a) Это означает, что один партнер отвечает за часть долгов и несет ответственность за свою долю бизнеса;

b) Это означает, что один партнер отвечает за производство, а другой несет юридическую ответственность за долги;

c) Это означает, что каждый партнер отвечает за все долги и юридически ответственен за весь бизнес.