Which of the following is NOT a type of business ownership?

A cooperative is indeed a recognized form of business ownership where individuals come together to meet common needs and objectives through a jointly owned and democratically controlled enterprise. It operates on the principles of voluntary and open membership, democratic member control, and equitable sharing of profits.

Sole proprietorships, partnerships, and corporations are three primary forms of business ownership that represent various structures of liability, tax treatment, and operational control. A sole proprietorship is owned by a single individual, a partnership involves two or more individuals collaborating in a business venture, and a corporation is a legal entity that is separate from its owners, providing limited liability protection.

Understanding each business structure's unique characteristics is crucial in determining the most suitable one for a specific business scenario. Therefore, the choice of business ownership type ultimately influences legal responsibilities, tax obligations, and personal liability for the owners involved.