Sole proprietorship is a legal expression referring to the class of ownership of a business. A sole proprietor is usually an individual with full equity and liability in a business. A sole proprietorship is usually not a corporate entity, and isn't a legal 'person'. The relevant legal entity is the owner. Sole proprietorship businesses are generally considered small businesses, but may also apply to franchises, or larger personal business ventures. |
Examples of Sole Proprietorship:
| It's a very large business, but it's still a sole proprietorship. The business is a sole proprietorship, with only one legal owner. Sole proprietorship businesses have one owner. https://en.wikipedia.org/wiki/Sole_proprietorship https://webpages.csus.edu/~dn247/Sole_proprietorship.htm |
