The term OWNED (5 letters) is a term used to describe a business that is OWNED and operated by the same person or group. This type of business is often referred to as a sole proprietorship, which is a business that is OWNED and managed by one individual. This type of business is attractive to many entrepreneurs because it allows them to have complete control over their business and its operations. Additionally, the profits generated from the business are solely OWNED by the owner, allowing them to keep all of the profits for themselves.