A limited partner is a type of partner in a partnership agreement who has limited liability and no active role in the daily operations of the business. The term limited partner can be interchangeable with the terms silent partner, junior partner, or passive partner. These terms all imply that the partner has a lesser degree of involvement in the business than their partners with general partnership status. A limited partner can also be referred to as a non-managing partner, contributing partner, or financial partner. Regardless of which synonym is used, the key difference between a limited and general partner is the former's liability and passive role in the company.