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Sole Proprietorship
A type of business entity owned and operated by one individual, with no legal distinction between the owner and the business.
Organizational Flexibility
The ability of a company or organization to adapt quickly to changes in its environment, including market trends, technologies, and internal dynamics.
Limited Liability
A legal structure where an individual's financial risk is limited to a fixed amount, typically the value of their investment in a company.
Perpetual Existence
A term used to describe a company's ability to continue operating indefinitely unless it decides to terminate.
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