special partner
noun
: a partner who may share in the profits of a general partnership registered under law, who contributes property to the capital thereof but must not exercise control over or be active in partnership affairs, and whose liability for partnership debts providing certain rules of law are observed is limited to his capital and interest in the firm assets
called also limited partner
—distinguished from general partnerDictionary Entries Near special partner
Cite this Entry
“Special partner.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/special%20partner. Accessed 23 Nov. 2024.
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