Sole traders, partnerships and corporations are commercial organizations. Cooperatives, microfinance providers and public-private partnerships are for-profit social enterprises whereas non-governmental organizations and charities are non-profit.
An unincorporated business is one where the owner is the same legal entity as the business, meaning that they bear full responsibility for all liabilities. Organizations can operate in the private or public sector. Private sector organizations are under private control, rather than governmental as in the public sector. Each type of business has its advantages and disadvantages.