Corporate Law
Sole Proprietorship
A business owned and run by a single individual, with no legal distinction between the owner and the business itself.
A sole proprietorship is the simplest business structure to set up, requiring minimal formal registration, but it comes with unlimited personal liability — the owner is personally responsible for all the business's debts and obligations, with no separation between personal and business assets.
As a business grows, owners often convert to a company or LLP structure specifically to gain the benefit of limited liability.
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