What type of business organization has the advantage of specialization but the disadvantage of unlimited liability?

A sole proprietorship has the advantage of specialization, as the owner can focus on their specific skills and interests to drive the business. However, it also carries the disadvantage of unlimited liability, meaning the owner is personally responsible for all debts and obligations of the business, which can put their personal assets at risk. This structure is often favored for its simplicity and direct control, but the potential financial risk is a significant drawback.