Assume you set up a sole proprietorship and your lawyer tells you that as the owner, you could stand to lose your personal wealth if the business goes bankrupt. This means a sole proprietorship:

Faces unlimited liability

Explanation:

From the question we are informed about instance, whereby you set up a sole proprietorship and your lawyer tells you that as the owner, you could stand to lose your personal wealth if the business goes bankrupt. In this case, it means a sole proprietorship Faces unlimited liability. Unlimited liability can be regarded as full legal responsibility that is been assumed for all business debts by business owners as well as partners . This liability cannot be regarded as capped, here there could be paying of obligations through the seizure as well as well as sale of personal assets of the owners, and this quit not the same as that of limited liability business structure.

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