Sole proprietorship:

A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of enterprise that
is owned and run by one natural person and in which there is no legal distinction between the owner and
the business entity.

Partnership:

A partnership is an arrangement where parties, known as partners, agree to cooperate to advance their
mutual interests. The partners in a partnership may be individuals, businesses, interest-based
organizations, schools, governments or combinations.