What term describes a partner actively and openly engaged in business?

The term that describes a partner who is actively and openly engaged in business is a general partner. In a partnership, a general partner has the authority to manage the business and is personally liable for the debts and obligations of the partnership. This means they have a hands-on role in operations and decision-making, contrasting with other types of partners who may not participate in the day-to-day management.

General partners manage the partnership alongside one another, making collaborative decisions about the business direction and operations. Their active involvement can be crucial for fostering the growth and success of the partnership, as they bring their expertise and commitment to the organization.

In contrast, a limited partner typically invests capital into the partnership but does not participate in management, thus enjoying liability protection. A silent partner, similar to a limited partner, provides capital without involvement in business operations and decision-making. An equity partner holds ownership through shares but may have varying levels of engagement.