What are the different forms of carrying on business in Canada?

The seven most common forms of carrying on business in Canada are:

  1. Sole proprietorship;
  2. Partnership;
  3. Co-ownership;
  4. Corporations;
  5. Joint ventures;
  6. Franchises and licenses; and
  7. Not-for-profit organizations and charities.

Each of these forms of carrying on business has a whole set of different pros, cons and practical implications and consequences. Of the different forms of business organization, a corporation is the most common.