silent partner

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silent partner

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. (See: general partner, limited partnership, partner)

References in periodicals archive ?
We are thrilled to be involved in this event,'' said Scott Marin of Silent Partners.
Dennis Roemer, CFO, Cooper Health System, Camden, NJ said, "We have grown to understand that our silent partners are those who have invested in our bonds.
Clinton then invited his three silent partners on the platform to speak, and all declined.