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Type Of Company Structures.
Sole Proprietorship
A business owned and operated by one individual. It is the simplest form of business structure, and the owner is personally responsible for all business debts and liabilities.
General Partnership
A business owned and operated by two or more individuals or entities. In a partnership, the partners share profits, losses, and responsibilities according to the terms of their partnership agreement.
Incorporation
A separate legal entity from its owners, known as shareholders. Corporations provide limited liability protection to shareholders, meaning their personal assets are usually not at risk beyond their investment in the company.