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proprietorship

   Also found in: Dictionary/thesaurus, Medical, Legal, Encyclopedia, Wikipedia 0.06 sec.
Proprietorship
An unincorporated business that is owned and operated by only one person who has complete liability for all assets, and complete rights to all profits.
proprietorship
A firm with a single owner, chiefly one who acts as the manager of the business. Income, expenses, taxes, liability for debts, and contractual obligations are inseparable with respect to differentiating the owner from the business. Compare corporation, partnership. See also unlimited liability.
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