Question

While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being self-employed required long hours and hard work, but with the help of her husband, Trent, Holly was positive that the hours and the work would be rewarded. First, she and Trent developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Holly and Trent obtained a patent on their invention, and began production and marketing.If the business is legally Holly's and she assumes unlimited liability, then the business form would be ______.

Answer 1

Answer:

Sole proprietorship

Explanation:

The characteristics of Sole Proprietorship includes unlimited liability and the owner of the business runs the business. In this case, the owner Holly is legal owner of the business and is involved in the marketing and production of the business. As the business is not registered as a company, the liability is unlimited which meets the criteria of sole proprietorship.