There are several different types of business entities to choose from when starting a company, each with its own set of advantages and disadvantages. The right type of entity for your company will depend on a variety of factors, including the size and nature of your business, the level of personal liability you are willing to accept, and your tax and financial planning considerations. Here are some common types of business entities:

Sole proprietorship: This is the simplest and most common type of business entity. A sole proprietorship is owned and operated by one person, and there is no legal distinction between the owner and the business. The owner is personally responsible for all the debts and obligations of the business.
Partnership: A partnership is a business owned and operated by two or more people. There are several types of partnerships, including general partnerships, limited partnerships, and limited liability partnerships. Partnerships offer more flexibility than other business entities, but the partners are personally liable for the debts and obligations of the business.
Corporation: A corporation is a separate legal entity owned by shareholders. The shareholders are not personally liable for the debts and obligations of the corporation. Corporations offer the greatest liability protection, but they also have more complex tax and management structures.
Limited liability company (LLC): An LLC is a business structure that combines elements of both corporations and partnerships. LLCs provide their owners (called "members") with limited liability protection, which means that the members are not personally responsible for the debts and obligations of the business. LLCs are relatively flexible and easy to set up and operate.

There are pros and cons to each type of business entity, and the right one for your company will depend on your specific needs and goals. It is a good idea to consult an attorney (like me) to help you choose the best entity for your company.