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Every asset of the business is owned by the proprietor, and all debts of the business are that of the proprietor; the business is not a separate legal entity. The arrangement is a "sole" proprietorship in contrast with a partnership, which has at least two owners. Sole proprietors may use a trade name or business name other than their legal name.
There are three main types of business entity in Brunei, namely sole proprietorship, partnership, and company. [11] A private company contains the term "Sendirian Berhad", meaning "Private Limited" or "Sdn. Bhd." as part of its name; for a public company "Berhad" or "Bhd." is used. [12]
Examples of these businesses are mostly found in the service sector such as electrical repair, retail shops, hotels and driving instructors. The business is easy to set up, there is no formal procedures and operations can commence immediately (unless there is special permission required).
All assets of the business belong to a sole proprietor, including, for example, a computer infrastructure, any inventory, manufacturing equipment, or retail fixtures, as well as any real property owned by the sole proprietor. [7] A partnership is a business owned by two or more people. In most forms of partnerships, each partner has unlimited ...
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Kris Jenner is getting in the Christmas spirit with some sexy snaps. On Dec. 24, the famous momager, 69, shared a series of throwback pictures revealing her chic holiday style throughout the years ...
Tech billionaire Elon Musk labeled a section of President-elect Trump supporters as “contemptible fools” as the online debate around visas for highly skilled workers on the right intensifies.
D E P A R T M E N T O F S T A T E September 5, 2007 2 UNCLASSIFIED UNCLASSIFIED Table of Contents SECTION SLIDE Highlights 1. Defeat the Terrorists and Neutralize the Insurgents 2. Transition Iraq to Security Self-Reliance