A person who owns a business is called its proprietor. Proprietor is an individual owner of a business that is not incorporated. This person has legal use of the assets and their operations. He contributes capital to the business with the intention of earning profit. All the assets and liabilities of the firm ensue to the proprietor.
In business, the term proprietor comes from the sole proprietorship business entity type. This form of company is unincorporated and only has one owner, the sole proprietor. Proprietorship is a business structure in which an individual and his/her company are considered a single entity for tax and liability purposes..