What Is the Most Common Type of Partnership?

What is the most common type of partnership? The most common form is a general partnership in which partners have personal and joint liability for the business.3 min read

Forms of Business Ownership

There are primarily four forms of business ownership to choose from regarding your company's legal structure. They include:

  • Sole proprietorship
  • Partnership
  • Corporation
  • Limited liability company (LLC) or a cooperative

All these structures have advantages and disadvantages you must consider before choosing one for your business.

The Sole Proprietorship Form of Business Ownership

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