Partner - Definition - Law Dictionary Home Dictionary Definition partner

partner

---

: one of two or more persons associated as joint principals in carrying on a business for the purpose of enjoying a joint profit
: a member of a partnership
;specif
: a partner in a law firm

dormant partner
: silent partner in this entry

general partner
: a partner whose liability for partnership debts and obligations is unlimited compare limited partner in this entry

lim·it·ed partner
: a partner in a venture who has no management authority and whose liability is limited to the amount of his or her investment compare general partner in this entry

partner in com·men·dam
[-in-kə-men-dəm, -kō-men-dÄ m]
in the civil law of Louisiana
: limited partner in this entry

si·lent partner
: a partner who takes no active part in conducting the partnership business but who receives a share of its profits and whose existence is often not made public called also dormant partner