Explain in detail the characteristics of the types of business ownership structures using real-world examples to illustrate.

There are four main types of legal ownership for businesses in the United States. These are sole proprietorship, general partnership, limited liability company (LLC), and corporation. These differ from one another on a few major characteristics such as number of owners, operational requirements, and federal taxation.

• Explain in detail the characteristics of the types of business ownership structures using real-world examples to illustrate. Be sure to provide at least one example for each type.
•  Write a 1–2-page paper in Word format. Apply APA standards to citation of sources.