Usually a corporation would have many owners and they normally employ professional managers. It could sue other parties but may also be sued. A C Corporation might be critical. A sole proprietorship may be the simplest type of business to make and oahu is the most typical small business structure, as mentioned by the Internal Revenue Service. It's a well known business form because simplicity, easy setup, and nominal cost. It's the normal business structure. Whoever owns a sole proprietorship typically signs contracts in her or his own name, since it doesn't have separate identity underneath the law. It's not just a legal entity. The Sole Proprietorship The only real proprietorship is the easiest business form under which you can operate an organization.