Partner

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Partner

Business associate who shares equity in a firm.

Partner

In a company, one who shares with at least one other person, jointly and severally, the right to share revenue, as well as at least some of the financial risk for the company's debts. In a general partnership, all partners share this right as well as management authority over the business. In a limited partnership, one or more general partners maintain management authority while limited partners only share in profit. In a limited liability partnership, partners may or may not have management authority and share revenue according to some predetermined arrangement. The allocation of risk differs between each of these types of partnership as well.

partner

A member of a partnership.
References in periodicals archive ?
Horror stories about bitterly feuding partners and lost dreams should not scare you from partnering, but they do impart a warning: It takes work to ensure that a partnership will be both profitable and personally satisfying.