llc operating agreement silent partner
technically, a business partnership is created when two or more individuals come together for a specific business purpose. both partnerships and llcs can differ in terms of how profits, losses, and responsibilities are distributed to each participating partner. typically, silent partners are known to only contribute to the business by way of capital infusion—that is, investing money in the business entity—while a general partner is an active manager in business operations. silent partners can also be referred to as limited partners (lps). in a partnership designated as a limited partnership, the liabilities of the silent partner are limited to the amount of money or property that they invest. limited partnership structures include both limited partners and general partners.