sleeping partner - Hutchinson encyclopedia article about sleeping partner Printer Friendly
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sleeping partner

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sleeping partner

Partner in a business who takes no active role in running the business, but still receives benefits from the business. A sleeping partner is usually an investor in the business who, in return for their investment, receives a share of the profits of the business. Once the business is firmly established, it may be possible to buy the sleeping partner out. By taking a risk in the first instance, a sleeping partner may become very rich, as the garage owner who invested in the Body Shop did when the company was floated on the London Stock Exchange.
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Now it appeared to him (Pumblechook) that if that capital were got into the business, through a sleeping partner, sir - which sleeping partner would have nothing to do but walk in, by self or deputy, whenever he pleased, and examine the books - and walk in twice a year and take his profits away in his pocket, to the tune of fifty per cent.
Great Expectations by Dickens, Charles View in context
The same day I was placed in a shop in Broadway, belonging to a firm of which I now understood the colonel was a sleeping partner.
Autobiography of a Pocket-Handkerchief by Cooper, James Fenimore View in context
Lastly, he was a charming fellow and showed that he was not lacking in intelligence, for, as soon as he made up his mind to be a sleeping partner in the Opera, he selected the best possible active manager and went straight to Firmin Richard.
The Phantom of the Opera by Leroux, Gaston View in context
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