The primary business structures that determines the ownership of a business are as follows;
• Sole Proprietorships: A sole proprietor is someone who owns an unincorporated business by himself or herself.
• Partnerships: A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the business.
• Corporation: In forming a corporation, prospective shareholders exchange money, property, or both, for the corporation's capital stock.
• Limited Liability Company (LLC): A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, and you should check with your state if you are interested in starting a Limited Liability Company.