Proprietorship company :
A business unit owned and managed by an individual is called a sole trading organization or individual proprietorship. It is the oldest, simplest & most natural form of business organization.
Main features :
1. No separate legal assistance except the proprietor who owns it.
2. Capital contribution – Made by the proprietor alone.
3. Management & control – Control over all the affairs of the business
4. Profit sharing – No sharing
5. Liability – The liability of the proprietor is unlimited.
6. Stability – Short life.