As a Investor Relations User, I would like to have "Entity Type" field on Accounts, so that I can identify the Legally Entity Type

This field is a Picklist field
I will get a list of values and add them later.

Field Name: Entity Type
Field Type: Picklist

Purpose: Used to identify the legal Business Entity type (AKA, LLC,LLP, C-corp, S-corp, ,Sole Proprietorship, Partnership, etc...)