Sole proprietorship

Artists with a business of their own often have a sole proprietorship, the simplest legal form. It is a good legal form for small-scale professional practices.

Who are involved?

A one-person business can also employ personnel. The founder or proprietor is the boss of the business.

Who disposes of the capital?

There is no difference between private and company capital. Both the profit and the debts are the preserve of the proprietor.

Who is liable?

The one-person business is not a person at law: the proprietor is liable for the debts of the business with his private capital. If the business goes bankrupt, that means the bankruptcy of the proprietor.