In contrast to sole proprietorships and partnerships the obligations of corporations are separate and distinct from the personal obligations of their principals.
People wouldn't feel obligated to follow the law or behave morally if they had no duties since they wouldn't be bound to this world. Through bonds created by implicit debts owed to one another, obligations bind the world together.
An individual, a business, or a limited liability partnership can all own and manage a sole proprietorship. The company doesn't have any partners. A sole proprietorship has the following legal standing: It is not a different legal entity from the proprietor of the business.
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