Proprietorship

A proprietorship company

A proprietorship company, also known as a sole proprietorship, is a type of business entity in India that is owned and operated by a single individual. The individual, known as the proprietor, has complete control over the business and is personally responsible for its debts and liabilities.

Proprietorship companies do not have to register with the government and are relatively easy to set up and operate. However, the proprietor has unlimited liability and must use their personal assets to pay off any debts incurred by the business. Additionally, proprietorship companies are not separate legal entities from their owners, so the proprietor’s personal assets are at risk in the event of a lawsuit.