Final answer:
Commercial entrepreneurship refers to the ownership of a for-profit business by an individual or group, commonly organized as a sole proprietorship, partnership, or corporation.
Step-by-step explanation:
Commercial entrepreneurship is the form of entrepreneurship in which a person or group owns a for-profit business. This contrasts with social or corporate entrepreneurship, whereby the goals may include social change or innovation within a larger organization respectively. In commercial entrepreneurship, the focus is typically on creating and running a business with the ultimate aim of generating profit. Various forms of business organization fall under this category, including sole proprietorship, where one individual owns and manages the business; partnership, which involves two or more co-owners; and corporation, owned by shareholders and managed by a board of directors.
New businesses often start as sole proprietorships due to the simplicity of setup and control, as well as the owner's entitlement to all profits. Over time, as businesses grow, they may evolve into different forms, such as partnerships to share responsibility and profits or into corporations to raise capital through shareholders.