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Dormant partner

Definitions

  • Webster's Revised Unabridged Dictionary
    • Dormant partner (Com) a partner who takes no share in the active business of a company or partnership, but is entitled to a share of the profits, and subject to a share in losses; -- called also sleeping partnerorsilent partner.
    • Dormant partner See under Dormant a.
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Usage

In literature:

The former was also discharged from all duty, and became a dormant partner.
"Voyages from Montreal Through the Continent of North America to the Frozen and Pacific Oceans in 1789 and 1793" by Alexander Mackenzie
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