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The operator may become Individually liable for the debts of the only real proprietorship, considering that there isn't any legal difference between the operator as well as the business. If a creditor sues the business enterprise as the small business owes them revenue, they might get to the operator’s possess individual assets within a lawsuit.
A sole proprietorship also referred to as a sole trader/sole proprietor, or just proprietorship is really a variety of enterprise entity, which happens to be owned and run by one particular particular person and wherever there isn't any authorized difference concerning the operator as well as business. All revenue and all losses accrue to the only real owner (proprietor/trader).
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The documents expected are copies of your CNIC, jamabandi, standing in the land as per learn prepare / ODP.