Proprietorship

Proprietorship Concern is one of the most common and oldest forms of businesses in India. It is a one man organization where a single individual owns, manages and controls business. The most important feature of proprietorship concern is that it is very easy to start. There is no mechanism provided by the Government of India for Registration of a Proprietorship Concern. The Sole Proprietorship firm enjoys some benefits like no registration or agreement is required to start and easy to close. On the other hand sole proprietorship does not provide some other benefits such as independent existence, transferability, separate legal entity, limited liability etc.