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the state or right of owning a business or holding property.
you get all the income and you choose your hours. also you have unlimited liability. your small business, in the form of a sole proprietorship, is personally liable for all debts and actions of the company. microsoft

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A corporation is a legal entity that is separate and distinct from its owners. Generally, a corporation's shareholders are not liable for any debts incurred or judgments handed down against the corporation. corporations may be able raise additional funds by selling shares in the corporation. Forming a corporation requires more time and money than forming other business structures.
Governmental agencies monitor corporations, which may result in added paperwork. Forming a corporation requires more time and money than forming other business structures.
amazon

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a business structure in the United States whereby the owners are not personally liable for the company's debts or liabilities. Pass-through taxation. No restrictions on the number of members allowed. Profits subject to social security and medicare taxes. In some circumstances, owners of an LLC may end up paying more taxes than owners of a corporation. Blackberry.

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a marketing concept which can be adopted by an organization as a strategy for business expansion. Expansion can be faster because franchisees provide the labour and their sales provide the growth. Franchisees are responsible for their company’s success so they are more motivated. Franchisees cannot be managed as closely as employees and they may have different goals to the franchisor. Franchise recruitment can be slower and less efficient than employee recruitment. mcdonalds

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the state of being a partner or partners. its less formal with less legal obligations and you share the burdens. Perceived lack of prestige and limited access to capital. GoPro & Red Bull.