A person who decides to go into business on his/her own without further formality forms a(n) Sole proprietorship
The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.
Sole proprietors may use a trade name or business name other than their or its legal name. They may have to trademark their business name legally if it differs from their own legal name, with the process varying depending upon country of residence.
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