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In law, a legal entity is an entity that is capable of bearing legal rights and obligations, such as a natural person or an artificial person (e.g. business entity or a corporate entity). In politics, entity is used as term for territorial divisions of some countries (e.g. Bosnia and Herzegovina).
The company, as an entity, was created by the state which granted the privilege of incorporation. [1] Companies take various forms, such as: voluntary associations, which may include nonprofit organizations; business entities, whose aim is to generate sales, revenue, and profit; financial entities and banks; programs or educational institutions
As a business entity, an LLC is often more flexible than a corporation and may be well-suited for companies with a single owner. [5] Although LLCs and corporations both possess some analogous features, the basic terminology commonly associated with each type of legal entity, at least within the United States, is sometimes different.
For the purposes of International Traffic in Arms Regulations (ITAR) and Export Administration Regulations (EAR), a United States entity is so defined: [1]... a U.S. entity is a firm incorporated in the United States (or an unincorporated U.S. firm with its principal place of business in the United States) that is controlled by U.S. citizens or by another U.S. entity.
Other terms include artificial person, corporate person, judicial person, juridical entity, juridic person, or juristic person. A juridical person maintains certain duties and rights as enumerated under relevant laws. [1] [2] The rights and responsibilities of a juridical person are distinct from those of the natural persons constituting it.
This is an accepted version of this page This is the latest accepted revision, reviewed on 18 December 2024. There is 1 pending revision awaiting review. Legal entity incorporated through a legislative or registration process For other uses, see Corporation (disambiguation). "Corporate" redirects here. For other uses, see Corporate (disambiguation). "Corp." redirects here. Not to be confused ...
Under the business entity concept, a business holds separate entity and distinct from its owners. "The entity view holds the business 'enterprise to be an institution in its own right separate and distinct from the parties who furnish the funds" [1] An example is a sole trader or proprietorship. The sole trader takes money from the business by ...
The first definition holds that an object is an entity that fails to experience and that is not conscious. The second definition holds that an object is an entity experienced. The second definition differs from the first one in that the second definition allows for a subject to be an object at the same time. [3]