Corporate Law

Types & Kinds of Partners

Kinds or Types of Partners

There are multiple types of partners in a partnership. Partner is a partial owner (Percentage as per share or Agreement) of business, who run the business and liable for the acts of business. objective of all kinds of partners are same that is to earn a profit.

Partners types can be described in 5 major categories, these are as mention below.

  • By Age
  • By Liability
  • By Activity
  • By Investment
  • Effecting on Partnership

Age wise Types of partners

  1. Major/Adult Partner
  2. Minor partner are those who are not Major / Adult as per country law. Usually it is 18 years. But varry from country to country constitution.

Liability wise kind of partners

  1. Limited Liability
  2. Unlimited liability

Types of Partners  by Activity involvement 

  • Active partner
  • Dormant/Sleeping Partner
  • Nominal / Quasi Partner
  • Estoppel partner Or Holding Out
  • Partner in Profit Only

Types of Partners Who Effect on partnership deed

  • New Partner
  • Retired Partner
  • Insolvent Partner
  • Deceased Partner

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