legal person
Rights-bearing organization
A legal person is an entity that the law recognizes as having rights and obligations similar to those of a human being—the ability to own property, enter contracts, sue, and be sued.
Corporations, governments, and certain organizations are legal persons, distinct from the natural persons (actual human beings) who may compose or represent them.
The nonprofit was incorporated as a legal person under state law.
This concept allows institutions to persist beyond the lifespans of their individual members.
Legally separate business entity
- LLCHybrid business entity abbreviation
- S-corpTax-elected small business entity
- incorporationForming a legal entity
- subsidiaryOf lesser importance
holding company · multinational · conglomerate · enterprise · shareholder · board · director · CEO
Capped financial responsibility for owners
- corporate veilLegal separation of entity from owners
- fiduciary dutyObligation to act loyally
- accountabilityObligation for one's actions
- obligationRequired task or commitment
compliance · penalties · sanctions · enforcement · regulations · oversight · governance · transparency
Underlying support structure
- charityVoluntary aid for others
- NGOIndependent charitable organization
- cooperativeJointly operated enterprise
- associationGroup with shared aim
trust · union · federation · society · guild · syndicate · fraternity · sorority
Bring legal action
- own propertyHave legal title to something
- intellectual propertyLegal rights over inventions
- due processGuaranteed judicial fairness
- inheritanceProperty received from ancestors
privacy rights · defendant · plaintiff · litigant · signatory · licensing · patent holder
corporation
Legally separate business entity
- LLCHybrid business entity abbreviation
- S-corpTax-elected small business entity
- incorporationForming a legal entity
subsidiary · holding company · multinational · conglomerate · enterprise · shareholder · board · director · CEO · IPO
limited liability
Capped financial responsibility for owners
- corporate veilLegal separation of entity from owners
- fiduciary dutyObligation to act loyally
- accountabilityObligation for one's actions
obligation · compliance · penalties · sanctions · enforcement · regulations · oversight · governance · transparency · negligence
foundation
Underlying support structure
- charityVoluntary aid for others
- NGOIndependent charitable organization
- cooperativeJointly operated enterprise
association · trust · union · federation · society · guild · syndicate · fraternity · sorority · league
sue
Bring legal action
- own propertyHave legal title to something
- intellectual propertyLegal rights over inventions
- due processGuaranteed judicial fairness
inheritance · privacy rights · defendant · plaintiff · litigant · signatory · licensing · patent holder
- Legal Personscorporation, LLC, nonprofit, cooperative, society
- Legal Fictionspersonhood, presumed death, civil death, John Doe, Jane Doe
- birth recordsbirth date, birth name, birth record, birth registration, birth location
- Roman LawRoman law, Corpus Juris Civilis, Justinian Code, Twelve Tables, Digest
- German LawRichter, constitutional court, constitutional law, federal law, basic law
- jurisprudencenatural law, Hart, Austin, Thomas Aquinas, rule of law
legal, person, legally, legality, legalize, legalization, illegal, illegally, illegality