Sole proprietorship: A sole proprietorship , also known as a sole dealer, is owned by one person and operates for their profit. The proprietor operates the business alone and may hire employees A sole proprietor has limitless legal responsibility for all obligations incurred by the business, whether or not from operating prices or judgements in opposition to the enterprise. All assets of the enterprise belong to a sole proprietor, together with, for instance, pc infrastructure, any inventory , manufacturing equipment, or retail fixtures , as well as any actual property owned by the only proprietor.

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