Meaning of “sole proprietorship” in the English Dictionary

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"sole proprietorship" in Business English

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sole proprietorshipnoun [ C ]

uk us also sole propietor company LAW

a business that is owned and operated by only one person:

A sole proprietorship is owned by one person who reports the profits on a personal income-tax return.

(Definition of “sole proprietorship” from the Cambridge Business English Dictionary © Cambridge University Press)