sole partnership

USAGE SUMMARY

The phrase "sole partnership" is correct and usable in written English.
It can be used to describe a business structure where a single individual owns and operates a business, often in the context of legal or financial discussions. Example: "After careful consideration, I decided to establish a sole partnership to manage my consulting services."

✓ Grammatically correct

News & Media

Academia

Wiki

Human-verified examples from authoritative sources

Exact Expressions

1 human-written examples

Datasift sole partnership with Twitter sealed the deal.

TechCrunch

Human-verified similar examples from authoritative sources

Similar Expressions

59 human-written examples

If your husband owns a business or professional practice and the profit or loss from that business is declared on your personal tax returns (as is usually the case with a sole proprietorship, partnership, limited partnership, LLC, or "S" Corporation), you are responsible for the veracity of that information.

Forbes

You must declare your form of entity (sole proprietorship, partnership, corporation or limited liability company) when getting a federal tax identification number and some business licenses.

The New York Times

If you set yourself up as a sole trader, partnership or limited company, make sure you claim business and home-working expenses to keep your tax bill down.

The Guardian - Money

Entity is a sole proprietorship, partnership, corporation, limited liability company or professional limited liability company, trust, the estate of a decedent, or the estate of a living person such as an incompetent or a minor.

Cornell University

Whether the business is a full-time occupation or a part-time venture, the form of ownership - sole proprietorship, partnership or corporation - can have an effect on your profits, raise or lower your taxes and even affect your personal finances if the business goes into bankruptcy.

The New York Times

The business may be a sole proprietorship, partnership, corporation, or any other legal form.

Journal of Innovation and Entrepreneurship

Respondents represented all the main forms of business structure, from sole trader, partnership and limited company.

Energy, Sustainability and Society

Section 6166 can apply to a business operated as a sole proprietorship, partnership or corporation.

Forbes

The IRS defines businesses as a sole proprietorship, partnership, C corporation or S corporation.

Forbes

For those of you that own a sole proprietorship, partnership or LLC, you need to move fast.

Forbes

Expert writing Tips

Best practice

When describing a business structure with a single owner, use "sole proprietorship" for clarity, as it's more widely recognized and legally precise than "sole partnership".

Common error

Avoid using "sole partnership" interchangeably with other business structures like "limited liability company (LLC)" or "S corporation". They have different legal and tax implications.

Linguistic Context

Noun phrase functioning as a descriptor for a type of business structure. It often appears in legal and financial contexts to denote a business owned and operated by a single individual. Ludwig AI indicates it's generally considered correct, though less common than 'sole proprietorship'.

Expression frequency: Rare

Frequent in

News & Media

33%

Academia

33%

Wiki

33%

Less common in

Science

0%

Formal & Business

0%

Reference

0%

Ludwig's WRAP-UP

The term "sole partnership" describes a business structure owned and operated by a single individual. Although grammatically correct, Ludwig suggests that "sole proprietorship" is the preferred and more widely accepted term. While "sole partnership" might be encountered in legal or business contexts, it's advisable to use "sole proprietorship" for greater clarity. Understanding the nuances between various business structures is important for legal and tax reasons. As demonstrated by Ludwig, it's crucial to use terminology that aligns with standard business practices.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

sole proprietorship

Refers to a business owned and run by one person, similar to a sole partnership, emphasizing the single owner.

single ownership

Highlights the aspect of having a single owner for a business, a core characteristic of a sole partnership.

individual proprietorship

Emphasizes the individual nature of the business owner and their responsibility.

one-person business

A simplified way to describe a business run by a single individual.

sole trader

A common term, especially in British English, for a business owned and operated by one person.

unincorporated business

Focuses on the lack of incorporation, which is typical for sole partnerships.

self-employment

Emphasizes the individual's status as working for themselves, often through a sole partnership.

freelance business

Implies working independently, often structured as a sole partnership.

independent contractor

Highlights the contractual relationship, where the individual operates as a sole partnership.

owner-operated business

Focuses on the owner's direct involvement in running the business.

FAQs

What is the difference between a "sole partnership" and a sole proprietorship?

While the term "sole partnership" is sometimes used, the correct and more common term is "sole proprietorship", which refers to a business owned and run by one person. It's important to use the correct terminology in legal and business contexts.

How do I establish a "sole proprietorship"?

Establishing a sole proprietorship typically involves registering the business name (if it's different from your own), obtaining necessary licenses and permits, and complying with local regulations. It's simpler than forming a corporation or partnership.

What are the advantages of operating as a "sole proprietorship"?

Advantages include ease of setup, minimal paperwork, direct control over business decisions, and pass-through taxation, where business profits are taxed at the individual's income tax rate.

What are the liabilities in a "sole proprietorship"?

In a sole proprietorship, the owner is personally liable for all business debts and obligations. This means personal assets are at risk if the business incurs debt or faces lawsuits.