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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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A business owned by a single person that is not a corporation, a limited liability company, or anything else. The sole proprietor who owns the proprietorship must list all profits and losses on his/her personal tax return and does not file a separate return for the business. Additionally, the proprietor is personally responsible for all losses and debts the business incurs. Some small businesses begin as sole proprietorships and then become something else. Other sole proprietorships are part-time businesses that their owners operate on the side.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
Ownership. Those who own their own business in their own personal name, without a corporation or partnership or other such business structure, is said to have a sole proprietorship.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
An unincorporated business owned by one person. The business owner may have employees working for him or her.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary