The document provides an overview of different business organizations under law, including sole proprietorships, partnerships, and corporations. It notes that a sole proprietorship is a business owned and operated by one individual, who is responsible for debts and management. Partnerships are defined as businesses carried out by two or more individuals with the goal of making a profit, with partners bearing joint and several liability. Finally, it mentions corporations as business entities that are legally separate from their owners, with shareholders having limited liability.