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.
New Hampshire USLegal Pamphlet on Silent Partners
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US-PMPH-17
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FAQ
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.
A silent partner agreement is a written legal agreement under which an investor commits to make an investment in a partnership, in exchange for the rights accorded to a limited partner.
Becoming a Silent Partner You can become a silent partner by entering into a limited partnership agreement with another person. The other person is the general partner, and they will be responsible for managing the business on a day-to-day business.
A Silent Partnership Agreement may include the following:Information about the partnership, including name, place and purpose.Term of the partnership.Percentage of ownership in the business.Specific contributions to be made by each Partner.How additional contributions are handled by the partnership.
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.
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.
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 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.
Silent partners in any business provide capital for the company but do not actively participate in the entity's management. Because the LLC structure is inherently flexible, silent investors may have the same number of shares as active members or smaller shares commensurate with the amount of money invested.
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