sole proprietorship
noun
plural sole proprietorships
: a business practice consisting of a single owner
The wife's business is not a partnership but a sole proprietorship. It belongs to her, not the couple.—Alan Farnham
Each business organization is structured in one of three ways: (1) as a sole proprietorship, (2) as a partnership, or (3) as a corporation. A sole proprietorship is owned and operated by one individual. The owner reaps all profits and is responsible for all the debts of the business.—Harriet E. Jones et al.
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Merriam-Webster unabridged
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