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LSDefine
Simple English definitions for legal terms
Sole proprietor
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A quick definition of Sole proprietor:
Sole proprietor: A person who owns and runs their own business all by themselves. They are the only owner and have complete control over the business. This type of business is called a sole proprietorship.
A more thorough explanation:
Sole proprietor
A sole proprietor is a person who owns and operates a business on their own. They are the only owner of the business and are responsible for all aspects of it.
John owns a small bakery in his town. He is the only owner and runs the business by himself. He is a sole proprietor.
Samantha is a freelance graphic designer. She works for herself and is the only owner of her business. She is a sole proprietor.
These examples illustrate the definition of a sole proprietor. In both cases, the individuals are the only owners of their businesses and are responsible for all aspects of them. They make all the decisions and are solely responsible for the success or failure of their businesses.