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Legal entity that is entirely separate from the parties who own it and that is responsible for its own debts is a partnership
This type of business structure is the most popular business structure in America sole proprietorship government sole proprie
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corporation

In a corporation a separate legal entity is created which can operate i business, borrow moeny etc. This gives the owners who are ot personally liable.

sole proprietorship

This is what most small businesses operate as a business structure i USA.

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