Usually a corporation could have many owners and they normally employ professional managers. It can sue other parties but may also be sued. A C Corporation may be critical. A sole proprietorship may be the simplest type of business to make and it's the most typical small business structure, as mentioned by the Internal Revenue Service. It is a popular business form due to its simplicity, easy setup, and nominal cost. It is the normal business structure. Whoever owns a sole proprietorship typically signs contracts in her or their own name, because it has no separate identity under the law. It is not a legal entity. The Sole Proprietorship The only real proprietorship is the easiest business form under which you may operate an organization.