Common Business Structures are the predominant forms of organization used to launch and manage a business. They include sole proprietorships, partnerships, limited liability companies (LLCs), corporations, and cooperatives—each of which provides certain advantages and liabilities for the owners.

The choice of structure will depend on the goals of your business venture and the level of risk or personal liability you are willing to assume. Selecting the right structure means understanding the tax implications, legal responsibilities, and personal investments that accompany each form. When making an informed decision, entrepreneurs must consider all aspects of their business model and weigh their options carefully to ensure they are properly set up for success.