There are 3 types of companies:

1.  Sole proprietorship -- this is where one person runs a business on his or her own and is 100% liable for all the debts and liabilities but is the sole owner of any and all profits of the company.  He or she is not protected from creditors and can lose everything personally if he or she gets in too deep.

2.  Partnership -- this is where 2 or more persons agree to work together in a practice of some kind (most often found in lawfirms or accounting firms). They work together, share the debts and share the profits.  Again, they can be personally liable and can also be personally liable for the actions of each other.  The exception to that rule is if they have a "limited liability partnership" which agreement can be drawn up at the start.  Otherwise, again they are liable for everything and anything the partnership owes.

3.  Corporation -- this is a separate entity on its own.  You can incorporate as a numbered company or you can request a Name Search.  If the name you choose is available, you can incorporate that company.  If you are alone, you can be the sole shareholder and sole director of this company.  The corporate entity earns the income and owes the debts.  You are protected financially by a "corporate veil" in the case of financial disaster.  The only problem that most face with a company is that banks will not lend money to a new company without the owners signing a personal guarantee which basically says that if the company does not pay its bills, you will.  Thus no protection.  

Once you have decided that a corporation is the best way for you to go.  We can help you with setting up your company and preparing all the documents required to get it done.  It is registered at corporate registry and once the Certificate of Incorporation is issued and a Minute Book with all the documents is prepared, you are ready to go.