- "An unincorporated business owned and run by one individual with no distinction between the business and you, the owner. You are entitled to all profits and are responsible for all your business’s debts, losses and liabilities."
- "Many sole proprietors turn to an LLC for some legal protection. The owners and any officers and directors are personally protected from the financial and legal liabilities of the company, including their own negligence in operating the business."
-" A partnership is a business entity that is managed by two or more individuals where each owner has rights to the business, contributes financially, manages operations and shares in the business's liabilities."
- "A corporation is owned by one or more stockholders and managed by a board of directors (which may consist of only one person) elected by the stockholders."