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English Lexicon

Sole proprietorship

/soʊl ˌproʊ.prriˈtɛr.ʃɪp/
nounCEFR C1 (Advanced)Top #4500 frequency
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Comprehensive Definitions & Senses

2 senses
As noun
  1. 1

    An unincorporated business owned and run by one individual with no distinction between the business and the owner, who is entitled to all profits and responsible for all personal liabilities.

    "She decided to set up her freelance graphic design business as a sole proprietorship."
  2. 2

    The legal structure of a commercial enterprise that provides the simplest form of business organization for a single entrepreneur.

    "Forming a sole proprietorship requires minimal paperwork compared to establishing a corporation."
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Linguistic Origin & Historical Etymology

Derived from the Latin 'solus' meaning alone and 'proprietas' meaning property, combined with the Old English suffix '-scipe' denoting state or condition. The term emerged in modern legal and commercial contexts during the 19th century to formally designate a business owned and operated by a single individual.

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