sole proprietorship

sole proprietorship
sole proprietorship n: a business owned and controlled by one person who is solely liable for its obligations compare corporation, partnership

Merriam-Webster’s Dictionary of Law. . 1996.

sole proprietorship
n.
See proprietorship

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


sole proprietorship
A business owned by an individual that has not been registered as a limited liability company, a corporation, or any other type of legal tax entity. For IRS purposes, the owner (sole proprietor) and the business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.
Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.

Nolo’s Plain-English Law Dictionary. . 2009.


sole proprietorship
n. A business that is carried on by a single person and that is not a corporation or a trust. It differs from a corporation in that the business is not a separate entity, and its taxes are paid directly by the proprietor.

Webster's New World Law Dictionary. . 2000.


sole proprietorship
A form of business in which one person owns all the assets of the business, in contrast to a partnership or a corporation.

Dictionary from West's Encyclopedia of American Law. 2005.


sole proprietorship
A form of business in which one person owns all the assets of the business, in contrast to a partnership or a corporation.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

sole proprietorship
n.
   a business owned by one person, as distinguished from a partnership or corporation.

Law dictionary. . 2013.

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