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A sole proprietorship is the simplest form of business organization with one owner who has total control and assumes all risks. It offers advantages such as easy formation, direct customer contact, and low taxation, but also has disadvantages like unlimited liability and limited capital. In contrast, a partnership involves two or more individuals sharing profits and responsibilities, with a formal agreement outlining their roles and liabilities, while a company is a separate legal entity with limited liabil

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sriyachalla10

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EN