Difference between a Trade Name and a Sole Proprietorship
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Difference between a Trade Name and a Sole Proprietorship

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This topic contains 1 reply, has 1 voice, and was last updated by Avatar of Robert Robert 7 years, 10 months ago.

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  • #5230
    Avatar of Robert
    Robert
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    We have a question from a client:
     
    What is the difference between a Trade Name and a Sole Proprietorship?

    #5231
    Avatar of Robert
    Robert
    Member

    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).

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