sleeping partner

(redirected from sleeping partners)
Also found in: Dictionary, Thesaurus, Legal, Idioms, Encyclopedia.

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 ?
When asked what the hardest compromise with their sleeping partner was, the most common response was room temperature (31 percent).
Almost 38 percent admitted that either they or their sleeping partner have slept on the floor or in a chair instead of in their bed in order to relieve back pain.
Baby Guess Home, Park Smith and Sleeping Partners all package their infant bedding in pouches.
Slated for next spring from Sleeping Partners is the Cambridge collection encompassing 20 different fabrics.
I'm a sleeping partner and to be honest I've got enough to do anyway with my charity matches and TV and magazine work.
NEW YORK--Ten years ago, Salvo Stoch, president of SoHo-based Sleeping Partners, manufacturer of bed tops and more, found himself in a predicament.
43) A "sleeping partnership" is a contractual arrangement under which an investor (the sleeping partner, with limited liability) contributes money or property to the contracting partner's business in exchange for a share in the business's profits and under the entitlement to obtain specified information about the business's development.