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Incorporate your business - Sole Proprietorships. A sole proprietorship is an unincorporated business owned and managed entirely by one person (the "proprietor"), except to the extent that the proprietor may delegate management responsibilities to an employee. It is the simplest form of business. There are no formal requirements for starting a sole proprietorship. As the sole owner of the business, you alone are personally liable for the debts and obligations of the business. The sole proprietorship form of business is most often a default choice used for small, low-risk businesses that have only a few employees and no need for more than one owner.
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