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A group of people that run the business. A corporation is owned by shareholders, and their ownership is represented by shares of stock. Like Amazon or Disney.

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Pros:
1. Employee stock benefits
2. A defined power structure
Cons:
1. You have to file both income taxes and business taxes.
2. No protection from self incrimination.

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When two people or more own a business and share profits and management.
An example of this is would be Warner Brothers. They were founded by Sam, Jack, Harry and Albert Warner. Another example is Ben and Jerry's. This famous ice cream brand was founded by Ben Cohen and Jerry Greenfield.

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Pros:
1. You don't have to be the only person taking care of taxes.
2. You can both bounce ideas off of each other.
Cons:
1. It's like a group project, if one person slacks the whole group goes down.
2. Each partner is liable for their share of the partnership debts.

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A type of business that's owned by run by one person. An example of this is a landscaper, they often work alone or might hire someone to work for him. Some house cleaning businesses are formed by one person, then they also start hiring people, just like the landscapers.

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Pros:
1. You get to be your own boss.
2. There's less government control
Cons:
1. It could be difficult to get financing
2. You don't know if your business is going to succeed or not.

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Pro:
1. Its easy to form and maintain
2. It protects you from business liability
Cons:
1. There are more tax forms to deal with
2. Formation costs and annual fees.

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This is a corporate structure whereby the members of the company are not personally liable for the company's debts or liabilities. I can be owned by one or more people.  If a customer was injured by your product Limited liability can prevent lawsuits on your things. Some examples are toys R us and and Dollar general.