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Sole Proprietorship
A business ownership structure where a single individual owns, operates, and is responsible for all aspects of the business.
Personally Liable
The legal responsibility of an individual to compensate for debt or obligation from personal assets, not through corporate or shared assets.
Sole Proprietorship
A business structure where a single individual owns and operates the business, personally responsible for all its debts and liabilities.
Legal Structure
The way a business is organized legally, affecting liability, tax requirements, and regulatory obligations. Common forms include sole proprietorship, partnership, corporation, and LLC.
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