Resource Library

Free Online Legal Resources

What are the advantages of organizing a business as a Sole Proprietorship?

A sole proprietorship is a business that is owned by an individual and that is not formed pursuant to any special legal construct, such as a limited liability partnership or a corporation. As a sole proprietor, the individual who owns the business has the exclusive right to make business decisions. It is a rather inexpensive way to operate a business since there are no corporate taxes, filing fees and few, if any, legal fees associated with creating or operating a sole proprietorship. However, sole proprietors should be aware that they can be held personally liable for any negligent or willful misconduct that occurs in the course of their business. 

Speak to an Experienced Business Law Attorney Today

This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified business lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local business attorney to discuss your specific legal situation.

Additional Business Law Articles

Search LawInfo's Business Law Resources

Find an Attorney in Your Area