Usually a corporation might have many owners and they normally employ professional managers. It may sue other parties but can also be sued. A C Corporation might be critical. A sole proprietorship is the simplest type of business to make and oahu is the most typical small business structure, as previously mentioned by the Internal Revenue Service. It's a popular business form because of its simplicity, simple setup, and nominal cost. It's the most popular 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 just a legal entity. The Sole Proprietorship The sole proprietorship is the easiest business form under which you can operate an organization.