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Unincorporated business

Definition

A business that does not possess a separate legal identity from its owner(s). The owner(s) bear full liability for any action or inaction of the business: they may sue and be sued for business activity or inactivity. Unincorporated enterprises include sole proprietorships, partnerships and family trusts.

Comments

Origin:

Statistical concepts library, Standards for Social, Labour and Demographic Variables, Cash Income Variables, Framework for Standard Cash Income Variables, Classification and Coding, Canberra: Australian Bureau of Statistics.

References

Reference online through:

Ausstats Standards for Social, Labour and Demographic Variables, Cash Income Variables


This content Based on Australian Institute of Health and Welfare material. Attribution provided as required under the AIHW CC-BY licence.

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