sole proprietor liability

sole proprietor liability
sole proprietor liability UK US noun [U] LAW
the legal responsibility of a business that is owned and operated by only one person: »

A sole proprietor's liability for business debts is unlimited.


Financial and business terms. 2012.

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Look at other dictionaries:

  • sole proprietorship — n: a business owned and controlled by one person who is solely liable for its obligations compare corporation, partnership Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Sole proprietorship — A sole proprietorship, or simply proprietorship (Benjamen Clark.: sole trader) is a type of business entity which legally has no separate existence from its owner. Hence, the limitations of liability enjoyed by a corporation and limited liability …   Wikipedia

  • Sole Proprietorship — The sole proprietor is an unincorporated business with one owner who pays personal income tax on profits from the business. With little government regulation, they are the simplest business to set up or take apart, making them popular among… …   Investment dictionary

  • sole trader — a person who trades by himself/herself without the use of a company structure or partners and bears alone full responsibility for the actions of the business. Glossary of Business Terms The sole promoter has unlimited liability. In other words,… …   Financial and business terms

  • sole proprietorship — A business owned by a single individual. A sole proprietor pays no corporate income tax but has unlimited liability for business debts and obligations. Bloomberg Financial Dictionary * * * sole proprietorship UK US noun [C] (also sole propietor… …   Financial and business terms

  • Limited liability company — This article is about a U.S. specific business entity form. For limited liability companies in the United Kingdom, see Limited company. For a general discussion of entities with limited liability, see Corporation …   Wikipedia

  • unlimited liability — A liability to pay all the debts incurred by a business. For a sole proprietor or general partner, liability is not limited to the amount he or she has agreed to invest. All debts of the business must not only be paid out of the assets of the… …   Accounting dictionary

  • unlimited liability — A liability to pay all the debts incurred by a business. For a sole proprietor or general partner (see partnership), liability is not limited to the amount he or she has agreed to invest. All debts of the business must not only be paid out of the …   Big dictionary of business and management

  • Forms of ownership — A form of ownership is the manner in which * an undertaking or enterprise is managed and controlled; * capital is contributed; * risks are borne; * profits are divided; and * legal personality affects the business.ole… …   Wikipedia

  • Corporate title — Publicly and privately held for profit corporations confer corporate titles or business titles on company officials as a means of identifying their function in the organization. In addition, many non profit organizations, educational institutions …   Wikipedia

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