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a business partner who has no management authority and no personal liability


Read Also:

  • Limited-partnership

    noun 1. a partnership formed by at least one general partner and at least one special partner.

  • Limited-payment life insurance

    [lim-i-tid-pey-muh nt] /ˈlɪm ɪ tɪdˈpeɪ mənt/ noun 1. a form of life insurance for which premiums are paid for a designated number of years.

  • Limited-policy

    noun, Insurance. 1. a policy that covers only certain types of losses within an area of risks.

  • Limited-slip differential

    [lim-i-tid-slip] /ˈlɪm ɪ tɪdˈslɪp/ noun 1. an automotive differential that can transfer power from a wheel that has lost traction to one that has not.

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