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Definitions from the Web

Sole Proprietorship

Description:

A sole proprietorship is a type of business entity where an individual owns and operates a business on their own. It is the simplest and most common form of business ownership.

Senses and Usages:

1. Legal Definition:

A sole proprietorship is a form of business organization that is owned and controlled by one person. The individual owner has full authority over the business and assumes all responsibilities and liabilities.

Example Sentence: John decided to start a sole proprietorship for his small consulting business.

2. Popular Usage:

Sole proprietorship is often used to refer to a small business that is owned and operated by a single individual, without any partners or shareholders.

Example Sentence: Sarah's bakery operates as a sole proprietorship, allowing her complete control over the business decisions.

3. Local Context:

In some local regions, sole proprietorship might be known as a specific term or concept in the local language or culture.

Example Sentence: In the local community, the term "one-person business" is used interchangeably with sole proprietorship.