Sole Proprietorship is the simple and best and simplest form to start with a business, and it is controlled by the single owner or sole owner. These businesses are controlled by the sole owners i.e. who owns business and is personally liable for its debts.
However sole proprietorship is not suitable for medium or large scale businesses due to certain disadvantages like unlimited liability, no separate legal entity, non-transferability and limited life of the business.
The Government of India has not specified any mechanism for registering as Sole proprietorship, so Sole Proprietorship can be recognized through tax registration, or by getting Trademark of the Company registered.
