Exercise 1. Transform the sentences according to the mood.

Model: I am thinking of starting my own business open a cafe.

I am thinking of opening a cafe.

1) start a car-repair shop

2) hire a book keeper

3) fire an employee

4) consult a board of directors

5) sell my business

6) do my books myself

7) consult a lawyer

8) find a specialists

 

Exercise 2. Transform the sentences according to the model.

Model: A book keeper will do the books.

I am going to have a book keeper do the books.

1. A partner will finance the business.

2. A salesperson will sell the clothes.

3. A decorator will design the interier.

4. A lawyer will do this work.

5. A secretary will mail the letters.

6. A colleague will give me a piece of advice.

7. A book keeper will prepare the tax report.

 

Exercise 3. Answer the questions.

1. Are you thinking of starting your own business?

2. What business do you want to start?

3. How do we call the business if you go into it alone?

4. Who is going to make the decisions and control the profits in your business?

5. Do you need a lawyer if you want to start a sole proprietorship?

6. Why don't you have to consult the partners in a sole proprietorship?

7. How many employees are you going to hire for your business? In what cases will you fire them?

8. What does it mean to have unlimited liability? Are you ready for it?

9. What will you do, if your business fails?

10.What will you do to put policies into effect quickly?

11.What businesses have tax benefits in this country?

12.Can you do your books yourself?

13.Аre you going to hire a book-keeper?

 

Exercise 4. Translate into English.

1.Мне нужен совет.

2.Я сам контролирую прибыль своего предприятия.

3.Если вы хотите заняться частным предпринимательст­вом, обратитесь к юристу.

4.Директор решает вопросы, связанные с наймом и увольнением.

5.Я боюсь иметь полную юридическую ответственность.

6.Я не отвечаю за производственные долги.

7.Малые предприятия имеют льготы по налогообложе­нию.

8.Хороший бухгалтер сможет вести дела лучше, чем вы.

9.Мне нужно нанять бухгалтера.

10.Мне нужно проконсультироваться с юристом.

 

Exercise 5. Make up the dialogue.

You are going to start your own business. Ask a lawyer or an experienced person how to do it.

Grammar Exercises

 

Exercise 1. Make the sentences negative.

1. I want to start my own business.

2. You need a lawyer in this case.

3. Sole proprietorship brings much profit.

4. Sole proprietorship gets tax benefits from the government.

 

Exercise 2. Put up four questions of different types (general, special, disjunctive, alternative) to each sentence.

Model: The partners are responsible for business debts.

a) Are the partners responsible for business debts?

b) Why are the partners responsible for business debts? '

c) The partners are responsible for the business debts, aren't they?

d) Are the partners responsible for the business debts or fulfillment of the arrangement?

1) I want to go into business with my friend.

2) You can lose personal assets.

3) He is difficult to gel tax benefits from the stale.

4) I do my books myself.

5) We both have unlimited liability.

6) The board of directors decided on vacation, salary, hiring and firing.

7) The partners want to consult a board of directors.

LESSON 2

PARTNERSHIPS

Техt

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 hut 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.

 

Active Vocabulary

partnership партнерство

to carry on a business вести дело

profit прибыль

general partner общий партнер (несущий полную юридическую ответственность за дело)

limited partner партнер с ограниченной юридической ответственностью

silent partner партнер без права голоса

secret partner секретный партнер (с правом голоса, но неизвестный

общественности как партнер)

law зд. 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

 

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)

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? 1 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 U -те 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 1 suppose

all business can be risky

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 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.

Susan Indeed.

Maurice How did you arrange to distribute profits and losses?

Susan We share them equally. We hope to be in business for long lime.

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. 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

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