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Transferability of Ownership
The capability to legally transfer the title or ownership of an asset or property from one entity to another.
Sole Proprietorship
A business structure in which a single individual owns and operates the business, bearing sole responsibility for its debts and obligations.
Corporation
A legal entity owned by stockholders whose liability is limited to the value of their stock ownership.
Partnership
A firm with multiple owners who share the profits and bear unlimited liability for the firm’s losses and debts.
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