A sole proprietorship is a business that is owned and operated by a single person. The owner of the business is typically referred to as the sole proprietor. As the sole proprietor, the individual is responsible for all aspects of the business, from day-to-day operations to taxes, liabilities, and profits. The title of the sole proprietor is typically simply the name of the individual. For example, if John Doe owns a business, his title would be John Doe, Sole Proprietor.
A sole proprietorship is a form of business with only one owner. They are relatively simple to set up and are the most common form of business in the United States. Sole proprietorships are not corporations, so they cannot legally sell stock or issue bonds. However, a sole proprietor can create a new business entity, such as an LLC or corporation, which can then sell stock. Alternatively, they may sell their business to an existing corporation, which can then offer stock to the public. In either case, they must comply with the relevant regulations and filing requirements.