Proprietorship

usgb/prəˈpraɪətərʃɪp/
noun

The state or condition of being an owner of a business.

My father transferred his proprietorship of the family business to my elder brother.
Visual representation of "proprietorship" - The state or condition of being an owner of a business.

Often appears as...

  • sole proprietorship
  • transfer of proprietorship
Definition 1 of 2
Visual representation of "proprietorship"
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Business Control

Proprietorship implies complete control over a business, usually by one person.

Illustration for Business Control
He enjoyed full proprietorship over his bakery, making all the decisions.
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Financial Responsibility

The proprietor is personally liable for all business debts and obligations.

Illustration for Financial Responsibility
Under her proprietorship, she was responsible for the shop's loans.
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Unique Entity

In a sole proprietorship, the business is not separate from the owner.

Illustration for Unique Entity
His proprietorship meant there was no legal distinction between him and his enterprise.
Visual representation of the word "Proprietorship"

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