What is a major characteristic of a sole proprietorship?

A sole proprietorship is defined by its ownership structure, specifically being owned and operated by a single individual. This characteristic distinguishes it from other forms of business ownership, such as partnerships or corporations, which involve multiple owners or shareholders. A sole proprietor has complete control over the business, making all decisions independently and keeping all profits, but they also bear full liability for any debts or legal actions that arise.

In contrast, the other options highlight features that are not applicable to a sole proprietorship. For example, a sole proprietorship inherently cannot have more than one owner, as this would contradict its definition. Additionally, it is generally considered to be the simplest form of business when it comes to legal structure and tax requirements, rather than the most complex. Lastly, sole proprietorships do not have the capability to sell shares to the public, which is a characteristic of corporations. Therefore, the defining feature of a sole proprietorship being owned by a single individual is what makes this answer accurate.