Individual/Sole proprietor: A business owned and run by one person (or a married couple), where the business assets and liabilities are not separate from your personal assets and liabilities. You are considered a sole proprietorship if you engage in business and do not register as any other type of entity.
Partnership: Organized by a simple agreement between two or more people to run a business together and share profits/losses. This agreement is often written but can sometimes be informal.
Corporation: Organized by filing articles of incorporation with the state. This creates a more complex legal entity owned by shareholders. It has its own rights, obligations, and liabilities.
Limited Liability Company (LLC): Typically organized by filing articles of organization with the state. This creates a legal entity separate from the owners (called "members"). It will typically have an operating agreement that outlines how the LLC will be run.
Limited Liability Partnership (LLP): Organized by filing a registration with the state specifically as an LLP. Like a partnership, it's an agreement between partners, but with the added liability protection registered with the state.
Joint Venture: Organized by a specific agreement between two or more parties to work together on a particular project. The organization is defined by the terms of that agreement and is usually temporary.
Association: Organized by a group of people coming together for a shared purpose. The organizational structure varies greatly depending on the purpose and can range from informal groups with bylaws to formally incorporated entities.

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