Proprietorship, also known as sole proprietorship, is a simple business structure where a single individual owns and operates the business. It is an unregistered form of business, meaning it doesn’t have a separate legal identity from its owner. In the case of “Startup Tiger,” if you are the sole founder and operator, setting up a proprietorship could be a suitable choice. A proprietorship has no legal distinction between the owner and the business entity. The owner has complete control over the business’s operations and reaps all the profits while bearing full responsibility for its debts and obligations.