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