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 ?
(2) The silent partners are those who subscribe to the company capital and shall be responsible for the company liabilities only to the extent of their share in the capital or what they committed to pay to the company.
Brothers Colin and Gary Manning today announced they had purchased the shares of silent partner Tom Morris of TJ Morris, the parent company of Croxteth-based discount store chain Home Bargains.
Even while the transfer tax system is in place, with proper planning and implementation, there are perfectly legal strategies for minimizing the devastating effects of this ever present silent partner.
Silent Partner recently introduced a product that will give hunters peace of mind should they find themselves in one of these situations.
However, since little attempt has been made to open up the material for the screen, "Silent Partner" remains dialogue-strewn with the most modest prospects for cinema release on its home turf and even less overseas.
He was the relatively silent partner in The Travelling Wilburys, the man who jump-started Bob Dylan's flagging career and the musical genius working with the likes of Roger McGuinn and sundry ex-Beatles.
The new venture is a partnership among former Catalina Lighting vice presidents Bruce Monaghan and Mike Perillo; Mike Poulin, who owned an import/export firm in Toronto; and a silent partner.
But he's still the best friend I've got." She returned the favor, nursing him through his illnesses, assisting on his shows--"a sort of silent partner," she called herself when we talked in 1999.
Called the Silent Partner silencer, it was developed by Donaldson with cooperation from Jacobs Vehicle Systems, manufacturer of the Jake Brake engine compression brake.
This "silent partner" applied the pressure to make sure the deal was financially sound.
The 45-yearold New Jerseyan has registered over 400 domain names and sold nine of them since starting her business with a silent partner less than three months ago.
* Do you have reason to believe the agent or partner is engaged in illegal conduct under local law or is engaged in business with a silent partner who is a government official or member of the ruling family?