Proprietorship is an alias for the Proprietor to do business. Proprietorships are ideal for very small businesses for a single ownership right.
A Partnership Firm is a popular form of business constitution for businesses that are owned, managed and controlled by an Association of People for profit. Partnerships firms are relatively easy to start are is prevalent amongst small and medium sized businesses having two or more Partners.
Limited Liability Partnership (LLP):
A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner's misconduct or negligence. For registration required minimum 2 designated partners.
One Person Company (OPC):
The concept of OPC allows a single person to run a company limited by shares, and Sole proprietorship means an entity where it is run and owned by oneindividual and where there is no distinction between the owner and the business.
Private Limited Company:
Private Limited Company is the most prevalent and popular type of corporate legal entity in India. Private limited company registration is governed by the Companies Act, 2013 and the CompaniesIncorporation Rules, 2014. To register a private limited company, a minimum of two members required.