sleeping partner


Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia.

Silent Partner

In a partnership, a partner who owns a share in the company's equity, but does not take part in management. A partner provides capital in order to fund the company's operations and is liable for loss up to the amount of an investment. A silent partner is also responsible for at least a portion of the company's tax liability. Less commonly, a silent partner is called a sleeping partner.

sleeping partner

a partner in a PARTNERSHIP who contributes capital to finance the business but takes no active part in managing the company. Sleeping partners still retain unlimited liability for the debts of the partnership alongside active partners.
References in periodicals archive ?
Meanwhile Edward, 18, is hardly a sleeping partner in all this.
Snorers are encouraged to have their sleeping partner with them while they answer the questions because the partner is better placed to confirm the severity of their snoring.
As the audience arrives and the actors assemble, a body is found, prompting questions which need to be asked: Just who is the director's current sleeping partner? Can the leading lady stay off the bottle long enough to perform in the play?
Blair is grabbing the headlines around the world while Bush remains at home in America, seeming almost a sleeping partner.
Other sleep tidbits: 17 percent of Americans admit to falling asleep at work; anxiety or anger is the number-one reason for difficulty getting to sleep; and 45 percent of women cite snoring as the most annoying habit of their sleeping partner.
But after he kisses her, is she prepared to become a 'sleeping partner' in the company?
"I'm very much the sleeping partner," says Sangster, who works daily at the nearby Manton estate owned by his family but lives along the A4 in Hungerford.
Jealous Margaret Redford has been spared jail for a knife attack on her sleeping partner.
Sleeping Partner (Pan, pounds 5.99) is set around the murder trial of Clarrie Morland - a nice, quiet, middle-class girl who apparently wouldn't hurt a fly.
It's more likely he'll become a kind of sleeping partner."
The latter was ridden by John Gorton, who later joined Doug Smith at Newmarket and won the 1969 Oaks on Sleeping Partner.
Stuart says: "I'm a sleeping partner, really - it's Melanie's thing.