There are different types of business entities to choose from when starting a company, each with its own set of advantages and disadvantages. Here is a comparison of some common types of business entities:

Sole Proprietorship:
Advantages: Simple and easy to set up, complete control over the business, and no requirement to file a articles of incorporation or a certificate of formation.
Disadvantages: Unlimited personal liability for the debts and obligations of the business.

Partnership:
Advantages: Simple and easy to set up, flexibility in management and profits, and the ability to pool resources with other people.
Disadvantages: Unlimited personal liability for the debts and obligations of the business, potential conflict with partners, and the need to resolve disputes through negotiation.

Corporation:
Advantages: Limited liability for shareholders, ability to sell ownership stakes through the sale of stock, and potential tax benefits.
Disadvantages: Complex management structure, double taxation (income is taxed at the corporate level and then again when distributed to shareholders as dividends), and greater regulatory compliance requirements.

Limited Liability Company (LLC):
Advantages: Limited liability for members, flexibility in management and profits, and potential tax benefits.
Disadvantages: Complexity in tax treatment (can be taxed as a partnership or a corporation), and the need to file a certificate of formation/articles of organization.

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 with an attorney (like me) to help you choose the best entity for your company.