Requires a Founding Statement and Certificate of Incorporation for formation. Sole Proprietorships The vast majority of small businesses start out as sole proprietorships. The sole proprietor himself, however, does pay income tax in his private capacity. A partner is an agent of the partnership and signs contracts on its behalf.org/wiki/Forms_of_ownership " Categories : All articles to be merged |org/wiki/Forms_of_ownership " Categories : All articles to be merged | Legal Forms of Ownership Even though we don't normally think about it, we own the things we buy, inherit or receive as a gift, under one of 7 different legal forms of ownership.

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