MLchartDataset catalogue

Sole proprietorship

Term · Law · MLC-T-LAW-004585

A business structure owned and run by one individual, where there is no legal separation between the owner and the business. This arrangement means the owner is personally responsible for all business liabilities, including debts and legal judgments. It is the simplest and most common form of business organization, requiring minimal legal formalities to establish.

Table 1. Record
IdentifierMLC-T-LAW-004585
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004585",
  "term": "Sole proprietorship",
  "field": "Law",
  "definition": "A business structure owned and run by one individual, where there is no legal separation between the owner and the business. This arrangement means the owner is personally responsible for all business liabilities, including debts and legal judgments. It is the simplest and most common form of business organization, requiring minimal legal formalities to establish.",
  "url": "https://mlchart.com/terminology/law/sole-proprietorship/"
}

Record 4,670 of 5,441 in Law terminology (MLC-0107). Request the full dataset.