Definition of special partner
: 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 partner
Start your free trial today and get unlimited access to America's largest dictionary, with:
- More than 250,000 words that aren't in our free dictionary
- Expanded definitions, etymologies, and usage notes
- Advanced search features
- Ad free!
Seen and Heard
What made you want to look up special partner? Please tell us where you read or heard it (including the quote, if possible).