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Corporate Ownership

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Corporate ownership is one of three broad categories of legal ownership of a business, the other two being sole proprietorship and partnership. In a sole proprietorship, the owner is personally liable for his or her business's debts and losses, there is no distinction made between personal and business income, and the business terminates upon the death of the owner (unless some specific arrangement is made for someone to inherit the business).

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Copyright © 2011 Advameg, Inc.