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Business ownership can take several forms, each with distinct characteristics, advantages, and limitations. The primary forms include sole proprietorship, partnership, joint-stock company, and cooperative society. A sole proprietorship is the simplest form, where a single individual owns and manages the business. Its main advantage is ease of formation and direct control over decision-making. The proprietor enjoys all profits and has complete autonomy. However, ________ ___ ______ _________ __________ __________ ___ _______ ____ _____.
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