The Law of Corporations and Other Business Organizations

Chapter 2 - Sole Proprietorships

Introduction

Chapter 2 introduces students to sole proprietorships, the formalities associated with doing business as a sole proprietorship, and the advantages and disadvantages of doing business as a sole proprietorship.

The goal of this chapter is for students to become familiar with the following terms and topics concerning sole proprietorships:
• Sole proprietor and sole proprietorship
• The legal formalities that must be followed by sole proprietors
• Advantages and disadvantages of doing business as a sole proprietor
• The concept of assumed names and the procedures that must be followed before using
an assumed name, trade name, or fictitious name
• The role of paralegals who work with sole proprietors
• Resources for further research regarding sole proprietorships

After reading this chapter in the book, use the Study Support Tools on left side of this page to reinforce the textbook. It is recommended that you use the tools in order from top to bottom.