- silent partner
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silent partner see partner
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- silent partner
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n.An investor in a business who contributes capital and shares profits and losses but does no active management.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
- silent partner
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An investor who puts money into a business and in exchange receives a share in the profits, but takes no part in management and may be unknown to the public or customers. A silent partner may be liable for business debts and judgments unless designated as a limited partner in a limited partnership agreement.Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- silent partner
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n. An investor in a business who takes a share of the profits, but who plays no active role in the day-by-day activity of that business. It is not unusual for a silent partner's name to be kept off the public record.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
- silent partner
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n.a non-legal term for an investor who puts money into a business, takes no part in management and is often unknown to customers. A "limited partner," who is prohibited from taking part in management and has no liability for debts beyond his/her investment, is a true silent partner. However, without a limited partnership agreement, a silent partner is responsible for the debts of the partnership as a general partner.
Law dictionary. EdwART. 2013.
