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of <h1>Individual owns business with complete authority over operations and assumes full responsibility for profits and liabilities.</h1> A proprietorship is a business owned by an individual who holds legal right, exclusive title, dominion, or ownership of that business. It is typically an unincorporated business owned and controlled exclusively by one person, commonly referred to as a sole proprietorship. The owner has complete authority over business operations and decision-making. This business structure represents the simplest form of business organization where a single individual assumes full responsibility for all business activities, profits, and liabilities without separate legal entity status.
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