Sole Proprietorship

Sole Proprietorship - A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity. The sole trader receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. Every asset of the business is owned by the proprietor and all debts of the business are the proprietor's. It is a "sole" proprietorship in contrast with partnerships (which have at least two owners).

Class Information

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Identification

Label (rdfs)
Sole Proprietorship
Preferred Label
None
Alternative Labels
Individual Entrepreneurship, Proprietorship, Sole Proprietorship, Sole Trader, SP
Identifier
ENTITY-SP

Definition and Examples

Definition
A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity. The sole trader receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. Every asset of the business is owned by the proprietor and all debts of the business are the proprietor's. It is a "sole" proprietorship in contrast with partnerships (which have at least two owners).
Examples
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Translations

de-de
Einzelunternehmen
pt-br
Empresário individual
fr-fr
Entreprise individuelle
ja-jp
個人事業主
zh-cn
独资企业

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Additional Information

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Deprecated
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