| Type | Structure |
| Sole trader | Exclusive owner of the business, entitled to keep all profits but liable for all losses |
| Partnership | Between two or more individuals who share management and profits |
| Limited company | Private company whose owners are legally responsible for its debts only to the extent of the amount of capital they invested |
| Limited liability partnership (LLP) | Some or all partners have limited liabilities, and exhibits elements of partnerships and corporations |
UK Business Legal Structure
