If I was to have ownership of a business, I would most likely choose to go with the limited liability company option. This form of business allows the owners or partners to minimize their personal liabilities while giving them all the tax benefits that people owning sole proprietorship or partnership businesses get. Limited liability company and the person who owns the business aren’t considered to be one, meaning that if there is a lawsuit filed against the business or if the business isn’t doing too well and is in debt, the owners’ personal assets cannot be touched. The only thing at risk would be the business assets. Also LLC gives you the flexibility to work with a partner where, unlike corporations you don’t have to divide the profits based on how much each partner invested in the business. You could make agreement with your partner as to how much of the profit each person will be getting.