Beherend vennoot

A managing partner is a partner in a partnership, such as a general partnership, who is responsible for the day-to-day management and decision-making within the business. Such a partner is generally subject to unlimited liability for the partnership’s debts and is authorised to perform legal acts binding the partnership in relation to third parties.

In practice, the managing partner is distinguished from the silent partner, who contributes only capital and takes no part in the management. The role is typically defined in the partnership agreement and is relevant to questions of representation, liability and internal decision-making.

The presence of a managing partner provides clarity in the operational conduct of the partnership and avoids uncertainty as to who may bind the partnership.