Distinguish between proprietorship, partnership and a company.

Proprietorship, partnership, and a company are distinct types of business structures, each with its own characteristics.

A proprietorship is a business owned and managed by a single individual. The owner has full control over decision-making and is solely responsible for the business's operations and liabilities. This structure _______ __________ _______ ___ _________ ____ ________ ________ ___ _________ ______ ________.
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