Carl starts up,and assumes the financial risk of,DataWorks,a new marketing enterprise.As a sole proprietorship,Carl's enterprise must meet legal requirements relating to

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As a sole proprietorship, Carl's enterprise must obtain any required state business licenses. While there are some legal requirements for sole proprietorships, they generally do not have to meet the same legal formalities as partnerships or limited liability companies. Additionally, as the sole proprietor, Carl does not need to obtain approval from anyone else for business decisions.

Carl Starts Up,and Assumes the Financial Risk Of,DataWorks,a New Marketing