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The Wall Street Journal Online

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What is the difference between Working Partner & Silent Partner in a small company ? edwin

We are 4 partners, only 2 bring the buisness for the company. The other 2 is just silent, but they are involving all our activities. We need to know they have the authority to involve in everything.

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edwin michle - In Using BizBuySell - Aug 12, 2011
Industry: Other Travel & Transportation

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Answers (1)
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Don Barrick

The BAF Group LLC
MD

It depends on how you set the business up. Is there a partner agreement? A set of corporate bylaws that breaks down contributions of each stockholder, their responsibilities and their levels of authority? If not, why not? You may need to see an attorney to figure that out. Any set of partners or owners that does not have such agreements established before they begin the business is asking for trouble, down the line.

Web reference: www.bafgroup.com

Aug 13, 2011
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