This pamphlet provides an overview of silent partners. Topics covered include what a silent partner is, steps to take before becoming a silent partner, and how buy-sell agreements are used.
California USLegal Pamphlet on Silent Partners
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Multi-State
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US-PMPH-17
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Definition. Member of a partnership who shares in the partnership's profits and losses but is not involved in active management of the company. A silent partner could still be personally liable for the company's debts unless the partnership is a limited liability partnership.
A silent partner is an individual whose involvement in a partnership is limited to providing capital to the business. A silent partner is seldom involved in the partnership's daily operations and does not generally participate in management meetings.
How much does a silent partner get paid? Silent partners get paid depending on their contribution and their equity in your business. Let's say that your silent partner invested $50,000, and your business is valued at $500,000. That means they have 10% ownership of the business, and they'll receive 10% of the profits.
Although silent partners can involve themselves as needed, they usually don't participate in managing the business. Their ownership is motivated by return on investment. Silent partners can prevent other partners from making any drastic changes in business structure.
Silent Partners A silent partner is any individual who provides funding to a business as his only contribution. Partnerships and LLCs can have silent partners. Silent partners can also be referred to as limited partners (LPs).
Silent partners are simply investors in the business. Their position as a silent partner accords them the right to review the company's financial statements and to have a voice in decisions that affect changes to the nature or existence of the partnership.
Definition. Member of a partnership who shares in the partnership's profits and losses but is not involved in active management of the company. A silent partner could still be personally liable for the company's debts unless the partnership is a limited liability partnership.
Silent Partners A silent partner is any individual who provides funding to a business as his only contribution. Partnerships and LLCs can have silent partners. Silent partners can also be referred to as limited partners (LPs).
Although state regulations can vary regarding silent partners, their relationship with the business and their potential liability, silent partners are commonly protected from unlimited personal liability for any debts or obligations of the partnership business.
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