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11.07.2022 - 01:31

Does a sole proprietorship have limited liability?

Question:

Does a sole proprietorship have limited liability?

Answers (1)

Katie April 19, 2023 в 03:15

No, a sole proprietorship does not have limited liability. This is because a sole proprietorship is not a separate legal entity from the owner. As a result, the owner is personally liable for all debts and obligations of the business, including any legal or financial consequences resulting from lawsuits or accidents. This means that personal assets of the owner, such as their home or car, may be at risk in the event of a lawsuit or other legal action against the business.

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