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Sole Proprietorship |
Also found in: Legal, Acronyms, Wikipedia, Hutchinson | 0.11 sec. |
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Sole Proprietorship A business organization that is unincorporated and has only one owner. Notes: The other two types of organizational structures are partnerships and incorporated companies (corporations). See also: Corporation, Partnership Sole proprietorship A business owned by a single individual. A sole proprietor pays no corporate income tax but has unlimited liability for business debts and obligations. |
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