Examlex
Because a service is individually produced and is virtually unique, the service is said to have _____.
Bankruptcy
A legal process where individuals or organizations declare their inability to pay off their debts.
Sole Proprietorship
A firm with a single owner who has the right to all profits but who also bears unlimited liability for the firm’s losses and debts.
Personal Liability
An individual's legal responsibility to settle a debt or fulfill an obligation from their own assets, as opposed to the liabilities being limited to business assets.
Business Organization
A legal entity formed to conduct business activities, ranging from sole proprietorships to corporations, structured according to law and operational needs.
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