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"To do a business you need to select the legal structure for your company. There are 3 types of businesses that are most commonly used in the market: Sole Proprietorship, Partnership, and Shared Ownership Corporation or company. In these three types, sole proprietorship is the most easy to understand. In this type, the company is directly controlled by its owner and the owner simply just needs a registered name to start the business. Partnership is similar to the sole proprietorship except it has now 2 or more partners to share the profits. The third type is Shared Ownership Corporation. In this type, the setup is much faster than the other two types and it is owned by only one person.
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