What type of business is defined as having two or more owners?

A business defined as having two or more owners is classified as a partnership. In a partnership, the owners share profits, losses, responsibilities, and decision-making for the business. This type of business structure is characterized by the mutual agreement and collaboration of the partners in managing the business operations and is typically governed by a partnership agreement that outlines each partner's contributions and obligations.

In contrast, a sole proprietorship is owned and operated by a single individual, making it a distinct entity with no partners involved. A corporation is a more complex business structure where ownership is divided among shareholders, but it is distinct from the concept of a partnership as it involves a legal separation between owners and the entity itself. Non-profit organizations operate to fulfill a charitable mission rather than to generate profit for owners or shareholders, which again differentiates it from a partnership. Understanding these distinctions helps clarify the nature of various business types and their ownership structures.