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 ?
The name of the silent partner should not be incorporated in the name of the company.
While some celebrities prefer to be silent partners or to simply lend their famous names, others are fulfilling lifelong ambitions.
You should also find out whether government officials are silent partners of the foreign firm.
Initially the piece created confusion and irritation among the Williams students, though ultimately they became the artist's silent partners as they began to amend Rock Fan.