There are several common forms of business:Sole proprietorship: It is a business for profit owned by one person. the owner may operate on his or her own or may employ others. The owner of the business has unlimited liability for the debts incurred by the business.
Partnership: A form of for profit business owned by two or more people. In partnership business each partner has unlimited liability for the debts incurred by the business.
Cooperative: Often referred to as a "co-op", a cooperative is a limited liability entity that can be organized for profit or not for profit.Cooperatives are typically classified as either consumer cooperatives or worker cooperatives. Cooperatives are fundamental to the ideology of economic democracy.