Unincorporated business
Glossary Item Attributes
Identifying and definitional attributes | |
Metadata item type: | Glossary Item |
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METEOR identifier: | 327462 |
Registration status: | Community Services (retired), Standard 04/04/2006 Housing assistance, Standard 23/08/2010 Homelessness, Standard 23/08/2010 |
Definition: | A business that does not possess a separate legal identity from its owner(s). The owner(s) bear full liability for any action or inaction of the business: they may sue and be sued for business activity or inactivity. Unincorporated enterprises include sole proprietorships, partnerships and family trusts. |
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