Английский язык: Сборник текстов и упражнений. Бодргина Л.И - 61 стр.

                                PART 2
                                UNIT 11
                       THE BUSINESS PARTNERSHIP

     When a proprietor wants to expand the business, one way to do so is to form
a partnership, a business formed for profit by two or more co-owners. The rights
and duties of a partnership are regulated by laws of the state where it is formed
and by a legal agreement entered into by the co-owners. Usually an agreement
specifies the amount of money each is investing and the duties each partner as-
sumes. A partnership agreement also may provide for a “silent partner” who does
not take part in the management, but who invests money in the business.
     The partnership has the advantage of pooling managerial talent. One partner
may be qualified in production, another in marketing. The partnership, like indi-
vidual ownership, is exempt from most of the reporting that the government re-
quires of corporations. Furthermore, it has a favourable tax position when com-
pared with the corporation. Federal taxes are paid by individual partners on their
share of earnings; beyond that the business is not taxed.
     A major disadvantage of the partnership is that each member is liable for all
the debts of the partnership; the act of any partner is legally binding upon all the
others. If one partner takes a large amount of money from the business and
squanders it, the others must pay the dept. Partnerships suffer another major dis-
advantage: decision-making is shared. If partners have serious disagreements, the
business is bound to suffer.
     Nevertheless, the partnership remains a vital part of the overall business
economy.

      Answer the following questions.
      1. What are advantages and disadvantages of a business partnership?
      2. Compare a partnership with a sole proprietorship. What are principal simi-
larities and differences?
      3. Which form of business organization would you choose? Why?




                              UNIT 12
                      MARKETING AND PROMOTION

     When a company starts to sell goods in a new market, they often do some
market research to see if the project is feasible. They research (investigate) the
market potential to see if they will make money by selling in the new market (i.e.
to see if the product is viable).
     One way to assess the market potential is to take a stand to a Trade Fair
where companies can exhibit samples of their products and see what response they
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