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A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by only one person and in which there is no legal distinction between the owner and the business entity. [1] A sole trader does not necessarily work alone and may employ other people. [2]
LLC stands for "limited liability company," which is a business structure that combines the pass-through taxation of a sole protectorship with the limited liability of a corporation.
Einzelunternehmen: individual entrepreneur ≈ sole trader (UK), sole proprietorship; only professional services, agriculture and forestry as well as small commercial businesses Eingetragener Kaufmann (male/both genders)/ eingetragene Kauffrau (female) (e.K./e.Kfm./e.Kfr.): registered merchant ≈ sole trader (UK), sole proprietorship (US ...
The most common and traditional unincorporated entities are sole traders, partnerships, and trustees of trusts. Modern unincorporated entities include limited partnerships (but not incorporated limited partnerships), limited liability partnerships (but not UK Limited Liability Partnerships, which are corporations), Limited liability limited partnerships, and limited liability companies.
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
Small businesses in the Central Zone of São Paulo. Researchers and analysts of small or owner-managed businesses generally behave as if nominal organizational forms (e.g., partnership, sole-trader, or corporation), and the consequent legal and accounting boundaries of owner-managed firms are consistently meaningful.
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