Legal Definitions - named partner

A named partner is a type of partner in a business. This is a partner whose name appears in the name of the partnership. For example, Mr. Tibbs is a named partner in the accounting firm of Gibbs & Tibbs.

Named partners are important because they are often the founders or senior members of the business. They may have a lot of influence over the direction of the company and may be responsible for important decisions.

For example, in a law firm, a named partner may be a high-ranking partner who has a lot of experience and expertise in a particular area of law. They may be responsible for managing the firm and making important decisions about which cases to take on.