READING - раздел Образование, ПРЕДПРИНИМАТЕЛЬСТВО I
Partnership. A PartnershipIs A B...
I
Partnership. A partnershipis a business organization that is owned by two or more persons. Partnerships offer certain advantages over sole proprietorships:
Partners bring additional funds to proprietorship.
Partners can bring fresh ideas and talents to business organizations.
Like the sole proprietorship, partnerships are relatively easy to form and are not subject to special taxation.
Partnerships have the following disadvantages:
In many cases, each of the partners is subject to unlimited liability. Partners are individually responsible for all the debts of the business. In other words, if the business were to fail, its creditors (those to whom money is owed) would have the right to recover their money from any, or all, of the partners.
Such was the case with Harold Nodough, Gloria Poor and Jack Rich who owned the Trio Dress Shoppe as a partnership. Under the terms of their partnership agreement, Nodough and Poor were each entitled to 40 % of their profits, while the remaining 20% went to Rich. Last month the firm collapsed. After selling off everything is owned, the company still owed its creditors $10000. since Nodough and Poor had no assets of their own, the creditors recovered the total amount from Rich’s personal bank account. Partnership agreements, however, can be designed to limit the liability of each partner so that investors like poor Mr. Rich can be protected.
Any time a partner dies or with draws from the business, the partnership is legally terminated. If the business is to continue, a new partnership agreement must be drawn up.
The amount of capital that a partnership can raise is limited. Exactly what this limit is will depend on the earnings of the business, the wealth of the partners, and their liability to borrow.
Partners may disagree, causing management conflicts that could threaten the firm’s existence.
Sole proprietorship
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Before starting your business you have to choose the type of proprietorship in which you will own it. You should know that any business sho
Active vocabulary
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To choose – выбирать
proprietorship – собственность
to own – владеть
sole proprietorship – частная собственность
par
Forms of business ownership
Sole proprietorship: business that is owned, and usually managed by one person.
Example: most of the produce sellers at the central market.
Partnership: a business w
Miscellaneous definitions
Acquisition: obtaining (in business it is when one company buys another).
Merger: combination of to or more firms to form one company.
Example: many banks in the USA
Partnership
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The partnership. Partnerships are voluntary combinations of from two to twenty persons formed for the purpose of carrying on busines
Active vocabulary
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Purpose – цель
to share – делить
to carry on – вести
tax benefits – налоговые льготы
limited liability – ограниченна
Corporation
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The corporation. A business corporation is an institution formed by two or more shareholders, who put money into business and get
READING
I
Corporation.A corporationis a business organization created under a government charter. Ownership of corporation is rep
Special types of business organizations
Not all business organizations fall neatly into the categories that we have described. Other types of business organizations are described below.
The S corporation – the corporatio
HOW TO START YOUR OWN BUSINESS
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The best reason for starting a business is to earn money, to travel, to get more knowledge of the world, to get business experience or to b
Active Vocabulary
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оwn - собственный
to earn – зарабатывать
experience – опыт
skill – навык
to choose – выбирать
success – усп
A young entrepreneur
Jayson Meyer was sixteen when he and his younger brother Matthew started their technology company. Jayson lives in Daytona Beach, Florida, in the USA. He looks like any typical university student,
Getting started in business
What do Juan from Spain and Jessica from the USA have in common? They are both teenagers running successful businesses. Juan, 16, has a gardening business with 75 clients and three employees. Jessi
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