Active Vocabulary. to carry on business partnership profit general partner limited partner silent partner secret partner

to carry on business partnership profit general partner limited partner silent partner secret partner law insurance stockbrokerage real estate oil prospecting quarrying industries advantage disadvantage to be legally responsible

вести дело партнерство прибыль общий партнёр (несущий полную юридическую ответственность за дело) партнёр с ограниченной юридической ответственностью партнёр без права голоса секретный партнёр (с правом голоса, но неизвестный общественности как партнёр) зд. юриспруденция страхование биржевое маклерство недвижимость добыча нефти добывающие промышленности преимущество недостаток быть юридически ответственным

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 for business? Give your reasons.

Vocabulary Practice

Select the necessary word in the sentence:

Secret partner, unlimited liability, real estate, general partner, advantage, profit, capital, management, tax benefits.

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.

Grammar exercises

Exercise 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 a 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.