proprietor

Examples of proprietor in the following topics:

• The Founding of Carolina

  • The Province of Carolina was created when Charles II rewarded the Lords Proprietor lands that include the modern day Carolinas and Georgia.
  • They named their colony Carolina, and they themselves were called the Lords Proprietors.
  • The division between the northern and southern governments became complete in 1712, but both colonies remained in the hands of the same group of proprietors.
  • A rebellion against the proprietors broke out in 1719 which led to the appointment of a royal governor for South Carolina in 1720.
  • The Earl of Clarendon was one of eight Lords Proprietor given title to the Province of Carolina.

• A Brief Definition of Sole Proprietorships

  • Every asset of the business is owned by the proprietor, and all debts of the business are the proprietor's.
  • A sole proprietor may use a trade name or business name other than his or her legal name.
  • In the United Kingdom, the proprietor's name must be displayed on business stationery, in business emails, and at business premises, and there are other requirements.

• Pros and Cons of Sole Proprietorship

  • The sole proprietorship is one type of business structure in the US that does not require formal incorporation, meaning that sole proprietors do not need to formally file articles of incorporation, hold regular meetings, or elect an advising or directing board.
  • This simplicity is also reflected in tax treatment, as a sole proprietor files taxes as personal income.
  • Sole proprietors also have control over the aspects of their business without the involvement of elected board members.
  • As a result, if the proprietor dies, the business ceases to exist.

• Advantages of Sole Proprietorships

  • A man starting his own consulting firm as a sole proprietor would require very little capital to set up a home office to operate until sufficient funds are earned to open a larger office.
  • The sole proprietor form of business ownership is the most common form in the United States and also the simplest.
  • As a sole proprietor, filing your taxes is generally easier than a corporation.
  • The sole proprietor can own the business for as long as he or she decides, and can cash in and sell the business when they decide to get out.
  • The sole proprietor can even pass the business down to their heir, a common practice.

• The Carolinas

  • The 1663 charter granted the Lords Proprietor title to all of the land from the southern border of the Virginia Colony to the coast of present-day Georgia.
  • Another region, near present-day Charleston, South Carolina, was settled under the Lords Proprietors in 1670.
  • This period culminated in Cary's Rebellion when the Lords Proprietors finally commissioned a new governor.
  • Another rebellion against the proprietors broke out in 1719, which led to the appointment of a royal governor for South Carolina in 1720.
  • After nearly a decade in which the British government sought to locate and buy out the proprietors, both North and South Carolina became royal colonies in 1729 when seven of the Lords Proprietors sold their interests in Carolina to the Crown.

• US legal issues

  • This type of operation is the simplest to form, and the single owner, or sole proprietor, may work as much or as little time as desired.
  • The sole proprietor is generally held accountable for all products and/or services produced by the business, as well as debts and liabilities of the business.
  • In addition to sole ownership of all assets and liabilities, the proprietor benefits by receiving all profits, which in the United States are taxed as part of the owner's total personal income.
  • The sole proprietor may employ workers or engage independent contractors to increase skills available, but the business ceases to exist upon the owner's death.
  • A sole proprietor business can be organized at any time into a different legal entity.

• English Administration of the Colonies

  • This person or family was given the title of Lords Proprietor.
  • Proprietary colonies were governed much as provincial colonies except that Lords Proprietors, rather than the king, appointed the governor.

• Small-Business Structure

  • By law, individual proprietors pay fewer taxes than corporations.
  • Some individual proprietors have joined forces with others to form chains of their own or cooperatives.

• New Jersey

  • The two proprietors of New Jersey attempted to augment their colony's population by granting sections of lands to settlers and by passing a document granting religious freedom to all inhabitants of New Jersey.
  • After one of the proprietors sold part of the area to the Quakers, New Jersey was divided into East Jersey and West Jersey, two distinct provinces of the proprietary colony.
  • While the majority of residents lived in towns with individual landholdings of 100 acres, a few rich proprietors owned vast estates.

• Settling the Middle Colonies

  • The colony's land was periodically granted to various proprietors and split into the Province of New York and the Province of Pennsylvania.
  • This document provided for religious freedom, no taxes without assembly approval, and a governor appointed by the proprietors.
  • When one of the proprietors sold his share to the Quakers, this sale divided New Jersey into East Jersey and West Jersey; however, the border between the two remained disputed.