Landing Page Forums Starting a Business Difference between a Trade Name and a Sole Proprietorship Reply To: Difference between a Trade Name and a Sole Proprietorship

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Robert
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Although in provinces such as Alberta the two terms are used interchangeably, from a registration perspective they actually imply completely different things: Sole Proprietorships are businesses owned by a single individual who assumes 100% liability over the business and everything therein. Trade Names are businesses owned by a Corporation, and are linked directly to the corporation with respect to all relevant business liabilities (and not necessarily the directors or owners of the corporation).