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Unincorporated

Definition - What does Unincorporated mean?

Unincorporated refers to businesses that have not gone through the process of becoming official and fully legally accredited corporations.

In the context of the law, an unincorporated business is not entitled to certain rights and privileges that incorporated businesses are entitled to. The owners of unincorporated businesses do not have their liability limited.

Justipedia explains Unincorporated

Whether or not the owners of a business have their liability limited relating to their companies can have huge legal impacts. The reason is because without limited liability, the owners of a business can be held liable for things such as injuries or company debts. These liabilities would not fall on the shoulders of the business owners in a limited liability company. Instead, they would fall on the business. Whether or not a business is incorporated can also affect its taxation status.

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