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  • su65 replied to the topic Family Businesses in the forum Business 101 8 years, 3 months ago

    Sole proprietorship cannot be passed on or transferred from dad to his sons. Unfortunately if dad dies, then the assests/company cannot be taken by his childern. His sons has no rights on the company their dad created. So in case of sole proprietorship, the company held by a person is solely his/hers. It cannot be transferred to their future generations. Its better sons start new business with partnership.