Sole Proprietorship

Types Of Businesses » Sole Proprietorship

A sole proprietorship is

“owned and operated” by one person (often called a "mom & pop shop")
common
not incorporated
- owner personally liable for for all business debt
- owner owns all goodwill
terminates upon
- death
- retirement
- sale of business

Difficult to sell for a fair price.

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corporate definitions

page revision: 3, last edited: 08 Jul 2007 16:20

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