Which business structure provides limited liability protection to its owners?

A corporation is a business structure that offers limited liability protection to its owners, known as shareholders. This means that the personal assets of the shareholders are typically protected from the debts and liabilities of the corporation. If the corporation faces legal challenges or financial difficulties, the most shareholders can lose is the amount they invested in the company; their personal assets remain unaffected.

This separation of personal and business liabilities is a significant advantage for owners, making it an attractive option for those seeking to minimize their financial risk. In contrast, sole proprietorships, partnerships, and general partnerships do not provide this level of protection, as the owners can be personally liable for the business's debts and obligations. Thus, the corporate structure is specifically designed to shield its owners from personal liability, which is why it is the correct answer in this context.