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