Definition: A business entity owned by a single person who is personally liable for all business debts but has 100% ownership of the company. Most businesses in America are in this form.
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Examples: Justin was the sole proprietor of his company.
Common Misspellings: sole propritor
Related Resources:
Ownership Resources
Learn all about business ownership structures.
Elsewhere on the Web:
Legal Business Structures
A complete resource on various ownership types including LLC, partnership and incorporation.Choosing A Legal Structure
This article covers the risks, tax implications, liabilities and control of various business ownership types.
