An extensive overview of various business structures, primarily focusing on partnerships and limited companies, contrasting their fundamental legal characteristics. Key distinctions are drawn between sole traders, general partnerships, limited partnerships (LPs), limited liability partnerships (LLPs), and private companies, detailing differences in owner liability (unlimited versus limited), management structures, and formation requirements (such as registration with Companies House). Significant attention is paid to the Partnership Act 1890 and the Companies Act 2006, outlining the statutory duties of partners and directors, including fiduciary duties and requirements for decision-making via resolutions. Furthermore, the texts examine the complex corporate governance requirements for limited entities, emphasizing transparency, statutory filings, and the protection of minority shareholders through mechanisms like the Bushell v Faith clause.