Sole Proprietorship Notes: Definitions & Explanations PDF | Download eBooks
Study Sole Proprietorship lecture notes PDF with strategic management definitions and explanation to study What is Sole Proprietorship?. Study sole proprietorship explanation with strategic management terms to review strategic management course for online MBA programs.
Sole Proprietorship Definition:
A form of legal organization in which the owner maintains sole and complete control over the business and is personally liable for business debts.
Management by Stephen P. Robbins, Mary A. Coulter
Sole Proprietorship Notes:
A sole proprietorship, otherwise called the sole broker, singular business enterprise or ownership, is a kind of big business that is claimed and kept running by one individual and in which there is no lawful differentiation between the proprietor and the business element. A sole merchant does not really work 'alone' it is feasible for the sole dealer to utilize other individuals. The sole broker gets all benefits (subject to tax collection explicit to the business) and has boundless obligation regarding all misfortunes and obligations. Each benefit of the business is claimed by the owner and all obligations of the business are the proprietor's. It is a "sole" ownership conversely with organizations (which have at any rate two proprietors). A sole owner may utilize an exchange name or business name other than their or its legitimate name. They may need to legitimately trademark their business name in the event that it contrasts from their own lawful name, the procedure changing relying on nation of living arrangement.
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