A voluntary association between two or more people who co-own a business for profit is called a corporation.

Voluntary Association

A group formed by individuals who voluntarily come together to pursue a common interest or goal.

Co-own

To have joint ownership or share ownership rights of a property, asset, or entity with one or more individuals or entities.

Corporation

A legal entity that is separate from its owners, who share limited liability protection, and is recognized by law as having rights and responsibilities.