{"id":47440,"date":"2022-02-08T03:46:38","date_gmt":"2022-02-08T03:46:38","guid":{"rendered":"https:\/\/corporate-canada.ca\/blog\/?page_id=47440"},"modified":"2022-02-08T04:07:12","modified_gmt":"2022-02-08T04:07:12","slug":"sole-proprietorship-new-registration-and-renewal","status":"publish","type":"page","link":"https:\/\/corporate-canada.ca\/blog\/sole-proprietorship-new-registration-and-renewal","title":{"rendered":"Sole Proprietorship: New Registration and Renewal"},"content":{"rendered":"

A Sole Proprietorship<\/b> is an unincorporated business that is owned by one individual. It is the simplest kind of business structure. The owner of a sole proprietorship has sole responsibility for making decisions, receives all the profits, claims all losses, and does not have separate legal status from the business. If you are a sole proprietor, you also assume all the risks of the business. The risks extend even to your personal property and assets.<\/p><\/div><\/div><\/div><\/div>

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\n\t\tSole Proprietorship in Ontario\n\t<\/h4>\n\t<\/div>\n\t

\nThe previous name of this product was Ontario Master Business Licence (MBL). It is also known as business name registration in Ontario. A sole proprietorship in Ontraio must be owned by a single person and not a corporation. When this type of business entity is owned by a corporation, in Ontraio, it\u2019s called Trade Name Registration<\/u>.<\/a>\n\t<\/p>\n\t

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