Examlex
Describe three advantages of operating a business as a sole proprietorship.
License
A license grants permission by one party to another to use property or engage in a particular activity, without transferring ownership.
Personal Liability
An individual's legal responsibility to satisfy a debt or legal obligation from personal assets.
Business Debts
Business debts are financial obligations that a business owes to creditors, which can arise from borrowing money, purchasing goods or services, or other business activities.
No Personal Liability
A legal principle or clause that protects an individual's personal assets from being used to satisfy business or contractual debts and liabilities.
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