Companies can be categorized based on their ownership structure and size:
Sole Proprietorship: Owned by one individual, easy to set up, but offers no liability protection. Partnership: Owned by two or more individuals who share profits and liabilities. Corporation: A separate legal entity, providing limited liability to its owners but subject to more regulations. Limited Liability Company (LLC): Offers liability protection with fewer regulations than a corporation. Cooperative: Owned and operated by a group of individuals for their mutual benefit.