Unincorporated business organization

{
  "id": "MLC-T-LAW-005069",
  "term": "Unincorporated business organization",
  "field": "Law",
  "definition": "A business organized in some form other than a corporation, such as a sole proprietorship, general partnership, limited partnership or limited liability company. Whether owners are personally liable depends on the form, since sole proprietors and general partners are liable while limited partners and LLC members are not. Some jurisdictions tax these organizations separately, as New York City does with its unincorporated business tax.",
  "abbreviation": "UBO",
  "url": "https://mlchart.com/terminology/law/unincorporated-business-organization/"
}