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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) |
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Steele, whose sports authority is composed of 10 silent partners, said he's got $200 million in financing lined up through an unidentified pension fund. Perhaps these so far silent partners may step to the fore. Sharpe and an ownership group of silent partners have invested $18 million in new high-speed production and packaging lines at the Sault Ste. |
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silent partners
