Ownership structures refer to the ways in which a business or organization is owned and controlled. Common types include sole proprietorships, where one individual owns the business, and partnerships, where two or more people share ownership. Corporations are another structure, allowing for ownership through shares, which can be publicly traded or privately held. Each ownership structure has its own legal implications, tax responsibilities, and levels of liability. For instance, in a sole proprietorship, the owner is personally liable for debts, while in a corporation, liability is limited to the amount invested. Understanding these differences is crucial for entrepreneurs and investors.