The ranks of Jedi Knight and Jedi Master come with the benefit of being allowed to take on Padawan learners in a formalized master-apprentice relationship. A knight or master may have up to two apprentices. Members of the Jedi council cannot take on apprentices.
Both master and apprentice gain benefits from this relationship, though with these benefits come certain responsibilities.
Apprentice
Benefits Through the guidance of their master, the apprentice learns valuable lessons. An apprentice gains an additional +2 Training Points on any mission both they and their master participates in.
Duties An apprentice is subject to the orders and strictures his master places on him. The master may issue tasks and chores to the apprentice, and may set out punishment such as restricting the equipment the apprentice may take on missions, or even temporarily revoking training privileges.
Master
Benefits The master, through the fresh insights and actions of this apprentice, also gain from this relationship. The master gains +1 Training Point for any mission that his apprentice succesfully completes. The master need not be present in the mission.
Duties A master is expected to provide guidance to their apprentices. As such taking on apprentices comes with the drawback that the master is held responsible for the actions and choices of their apprentice. The Jedi Council will hold the master fully responsible for the actions of their apprentice.