]> Sole Proprietorships Ontology This ontology defines the fundamental concepts for representing sole proprietorships -- i.e., organizations that are owned by an individual that is responsible for the liabilities of the organization. http://opensource.org/licenses/MIT The https://spec.edmcouncil.org/fibo/ontology/BE/20160201/SoleProprietorships/SoleProprietorships.rdf version of this ontology was modified per the FIBO 2.0 RFC. The https://spec.edmcouncil.org/fibo/ontology/BE/20180801/SoleProprietorships/SoleProprietorships.rdf version of this ontology was modified to use natural person rather than legally capable person. The https://spec.edmcouncil.org/fibo/ontology/BE/20181101/SoleProprietorships/SoleProprietorships.rdf version of this ontology was modified to eliminate a redundant subclass relationship, enhance ownership relations, and revise definitions to be ISO 704 compliant. The https://spec.edmcouncil.org/fibo/ontology/BE/20200601/SoleProprietorships/SoleProprietorships.rdf version of this ontology was modified to eliminate unnecessary references to external sources. The https://spec.edmcouncil.org/fibo/ontology/BE/20210301/SoleProprietorships/SoleProprietorships.rdf version of this ontology was modified to make sole proprietorship a subclass of legal person. The https://spec.edmcouncil.org/fibo/ontology/BE/20220101/SoleProprietorships/SoleProprietorships.rdf version of the ontology was modified to use the Commons Ontology Library (Commons) Annotation Vocabulary rather than the OMG's Specification Metadata vocabulary.

1 sole proprietor party that owns a business, has the rights to all profits from that business and is considered a single entity (unincorporated) together with that business for tax and liability purposes

A sole proprietor has unlimited liability with respect to any business debts.

sole owner

sole trader

1 sole proprietorship unincorporated business owned by a single person