Business / Real Estate / Sole Proprietorship: A method of owning a business in which one person owns the entire business and reports all profits and losses directly on his or her personal income tax return, as contrasted with corporate, joint or partnership ownership. A sole or individual proprietorship is easy to organize and flexible to operate. It is frequently used in real estate brokerage. An individual proprietor may run a brokerage company if he or she has a valid brokers license. The proprietor may use his or her own name or a fictitious name previously registered as required by state law. There is a growing tendency for sole proprietors to incorporate and thus take advantage of certain tax and fringe benefits, such as those provided by pension and profit-sharing plans.
Sole Noun Synonyms: lone, only, singular, unique, solitary, particular, exclusive, individual, personal
Business / Agriculture / Sole Source Bid: This refers to the required bidding process for infant formula sold through the WIC program. It offers an infant formula manufacturer the option of bidding to be the only provider of infant formula co MORE
Business / Finance / Sole Proprietorship: Unavailability of a futures contract in a particular commodity or maturity date because of contract executions and limited offerings. MORE