Identification
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).
Class Relationships
Sub Class Of
- โข Entity
Parent Class Of 0
- โข None
Translations
de-de
Einzelunternehmen
pt-br
Empresรกrio individual
fr-fr
Entreprise individuelle
ja-jp
ๅไบบไบๆฅญไธป
zh-cn
็ฌ่ตไผไธ
Class Hierarchy Visualization
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Additional Information
Metadata
Comment
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Description
None
Notes
- โข None
Editorial Information
History Note
None
Editorial Note
None
Deprecated
No
Source and Origin
No source or origin information available