EASTERBROOK, Circuit Judge.
Thermoplastics Engineering Co. (TEC), a manufacturer of food processing machinery in Illinois, had trouble raising money for new projects. Ihor Wyslotsky, a mechanical engineer, and Lloyd Shefsky, a tax lawyer, owned TEC; they caused the formation of general partnerships in Israel through which TEC indirectly acquired funds. The principal question in this case is whether these partnerships were engaged in the sort of research and development...
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