What kind of business has two or more owners that share risks and profits?

The type of business where two or more owners share both the risks and the profits is called a partnership.

In a partnership, all partners contribute to the business in some way — through capital, skills, or labor — and in return, they share profits and losses based on an agreed-upon ratio. This setup allows for shared decision-making, but also means each partner may be personally liable for business debts (unless it's a limited liability partnership, or LLP).

It's a common structure for small and medium-sized businesses that want to pool resources and share responsibilities.