Lexeme: legal entity  
Very Rare (0.01)
Definition:
  1. noun. A legal entity refers to an organization or a business entity that is recognized by law as having the rights and responsibilities of an individual. It can engage in various legal actions, such as entering into contracts, owning and transferring assets, filing lawsuits, and being held liable for its actions. Legal entities can include corporations, partnerships, limited liability companies (LLCs), non-profit organizations, and government entities, among others. The concept of a legal entity provides a framework for organizations to operate within the legal system and carry out their activities. GPT3.5
Word Forms:
  • noun. legal entity (singular), legal entities (plural)
Synonyms:
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