Sole Proprietorships

What Is It?
A sole proprietorship is a form for conducting business by a single person as an owner.  The owner is often referred to as a “sole proprietor” or a “proprietor”.  A proprietor is may conduct business in his legal name, a non-deceptive assumed name, or a trade name.  For example, John Smith could conduct business as “John Smith”, “John Smith’s Furniture Store” or “Excellent Furniture”.   The defining legal aspect of a sole proprietorship is that there is no distinction between the business and the proprietor.

Although a sole proprietorship can have only one owner, sole proprietorships may have an unlimited …