What is legal entities?
The concept of legal entities is a fundamental aspect of several legal disciplines, particularly:
Business Law: This field heavily focuses on different legal structures businesses can take, like corporations, partnerships, and limited liability companies (LLCs). Understanding the formation, governance, rights, and responsibilities of each entity is crucial for business operations.
Corporate Law: This is a specialized area within business law that dives deeper into the legal framework surrounding corporations. It explores topics like shareholder rights, board of directors' duties, mergers and acquisitions, and corporate governance best practices.
Property Law: This field deals with ownership rights and how they are structured. Legal entities like corporations can own property separate from their owners, creating a layer of complexity that property law addresses.
What are the main features of legal entities?
- Separate Legal Identity: A legal entity is distinct from its owners. This