What is the difference between a sole proprietorship and a corporation?
As with the difference between a corporation and a partnership, the difference primarily comes down to the legal protection given to the owner. See the discussion above about the difference between a corporation and a partnership. It really is the same answer, except that a sole proprietorship is owned and operated by one person instead of two or more people as in the case of a partnership. The sole proprietorship is by far the simplest form of business since it only requires a person to wake up one day and decide to do business.
Related Questions
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