Usually a corporation might 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 could be the simplest form of business to create and it's the most typical business structure, as stated by the Internal Revenue Service. It's a well known business form because of its 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 his own name, since it does not have any separate identity underneath 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.