In a sole proprietorship, a single individual engages in a business activity without necessity of formal organization.
Sole proprietorship: The most common and the simplest form of business is the sole proprietorship. Generally, businesses are created and operated in one of the following forms: The decision regarding business structure is a decision that a person should make, in consultation with an attorney and accountant, and taking into consideration issues regarding tax, liability, management, continuity, transferability of ownership interests, and formality of operation.
SOSDirect: Business Searches & Formations.
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