An entity that is recognized by the law as a legal person, meaning it possesses legal rights and obligations distinct from the individuals who comprise it. Examples include companies and corporations that can engage in legal actions, own property, etc.
A body corporate is a type of corporation consisting of a body of persons legally authorized to act as one person, distinct from its individual members.
A company is a corporate enterprise that has a legal identity separate from that of its members; it operates as a single unit in which all members participate. Companies can have limited or unlimited liability and may be registered or unregistered.
A corporation is a legal entity composed of individuals that acts as a single entity with distinct legal rights and liabilities, separate from its members. It can be created by various legal forms, and can either be composed of a single person or several individuals.
Incorporating refers to the process of legally forming a new corporation, city, or including additional elements within an entity as per legal procedures.
An incorporated company results in a legal entity that is distinct from its owners, providing limited liability protection and other benefits.
Incorporation is the process by which a company is officially registered and recognized as a legal entity separate from its owners, allowing it to own assets, incur liabilities, and engage in contracts.
A legal entity refers to a person or organization that has the legal standing to enter into a contract and may be sued for failing to perform as agreed in the contract. A child under legal age is not a legal entity. A corporation is considered a legal entity since it is deemed a person in the eyes of the law.
A legal person, also known as an artificial person, is an entity recognized by law as having rights and duties similar to those of a natural person. Legal persons can enter into contracts, own property, sue, and be sued.
In legal terms, a 'party' refers to an individual or entity that is involved in a legal contract, lawsuit, or other legal proceedings.
A Professional Association (P.A.) is a legal entity that allows professionals to practice within the framework of a designated organizational structure while benefiting from certain protections and tax advantages.
A Special Purpose Vehicle (SPV) is a separate legal entity created by a parent company to isolate financial risk. The SPV is often used for a single specific purpose, such as to facilitate complex financial transactions, isolation of assets, and credit enhancement in securitization.
A statutory merger refers to the legal combination of two or more corporations in which only one corporation survives as a legal entity, with all others ceasing to exist.
