Vikram, a skilled graphic designer, has been running his design studio as a sole proprietorship. Over time, his business has grown, and he started handling larger projects with higher risks. While he enjoys the simplicity of managing his sole proprietorship, he is worried about his personal liability if something goes wrong. On the advice of his friend, Vikram is considering converting his business into a One Person Company (OPC) to limit his liability and improve his business’s credibility. Based on the above case, compare Sole Proprietorship and One Person Company (OPC). Which form of business entity would be better for Vikram and why?