1. Перекладіть словосполучення:

to carry on a business for profit, certain disadvantages, in such professional fields as, a common form of ownership, a person who is known to the public, each partner is responsible for, like sole proprietorship, get tax benefits, the reverse of the silent partner, without authority in management.

2. Дайте відповіді на запитання:

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 partnership found?

4. In what businesses is the partnership a common form?

5. What are the advantages of a partnership?

6. What are the disadvantages of a partnership?

7. Would you prefer partnership or sole proprietorship for business? Give your reasons.

3. Вставте пропущені слова:

1. Partnership very after receives … from the government.

2. A secret partner takes part in …

3. Limited partnership is a common form of ownership in …

4. … has the authority in management but he is not know to public.

5. Partnership have many …, one is that they receive tax benefits from the government.

6. … are the partners with unlimited liability.

Corporations

New vocabulary:

corporation – корпорація;

to establish – засновувати, запроваджувати;

profit – прибуток;

ownership - володіння, власність;

share - частка, акція;

to represent - представляти, символізувати;

stock certificate – акція;

stockholder (shareholder) - акціонер, держатель акцій;

advantage – перевага;

ability – здатність;

to attract financial resources – залучати фінансові ресурси;

to offer high salaries – пропонувати високі зарплати;

to attract a large amount of capital - залучати великий капітал;

equipment – обладнання;

research - дослідження, вивчення;

educational institutions – освітні заклади;

religious institutions – релігійні заклади;

charitable institutions – благодійні заклади;

to incorporate - об’єднувати (ся);

to issue stock - випускати акції;

nonprofit – неприбутковий;

to reinvest - вкладати ще раз;

to distribute - роздавати, розподіляти;

to invest - інвестувати в; вкладати; помістити капітал в;

agency – представництво;

A business corporation is an institution established for the purpose of making profit. It is operated by individuals. Their shares of ownership are represented by stock certificates. A person who owns a stock certificate is called a stock-holder.

There are several advantages of the corporate form of ownership. The first is the ability to attract financial resources. The next advantage is the corporation attracts a large amount of capital it can invest it in plants, equipment and research. And the third advantage is that a corporation can offer higher salaries and thus attract talented managers and specialists.

The privately owned business corporation is one type of corporation. There are some other types too. Educational, religious, charitable institutions can also incorporate. Usually such corporation does not issue stock and is nonprofit. If there is a profit it is reinvested in the institution rather than distributed to private stockholders.

In some western countries, cities, federal government and special agencies can establish governmental corporations. A few examples of these governmental corporations are state universities, state hospitals and city owned utilities. Governmental corporations are non-profit as a rule and usually they do not issue stock certificates.