What kind of business structure involves multiple owners sharing control?

A partnership involves multiple owners sharing control of a business. In this structure, each partner contributes to the business, whether in terms of capital, labor, or expertise, and they share in the profits and losses of the business. The collaborative nature of partnerships allows for diverse skills and resources, which can enhance the business's operations and decision-making processes.

In contrast, a corporation is a more complex legal entity that operates independently from its owners, who are shareholders, and it typically has a formal structure with a board of directors. A sole proprietorship is owned and controlled by a single individual, providing no shared decision-making or ownership. A franchise, while allowing for multiple locations or units to operate under a singular brand, is not a structure where ownership and control are shared among multiple owners; rather, the franchisee operates under specific guidelines set by the franchisor.

Thus, the partnership model directly embodies the concept of shared ownership and control among its members.