A legal person is a legal concept that refers to a unit with a series of rights and obligations. Said unit can be made up of one or more individuals through the creation of commercial companies, state entities or other organizations of various kinds.
Through the existence of legal personality it is possible to develop economic activities in a regulated and controlled manner. In addition, they would also have the ability to undertake non-profit actions, as is the case with NGOs.
The legal person is therefore a name that arises from law with the idea of allowing these companies the ability to have certain rights and obligations in the same way that a natural person could have them.
In other words, the origin of this legal mechanism is to give legal responsibility in order to undertake commercial, legal or economic actions. In this way, it is possible to distinguish the legal identity and the responsibility that it carries with it from the individual identities of the individual members of the group.
In other words, if we take a company as an example, it itself has its own identity according to the legal point of view beyond the partners that make it up.Legal fact Businessman Public Law
Characteristics of a legal entity
As with the concept of natural person, legal persons have a series of defining features.
- They have nationality or registered office.
- They have a registered tax address.
- Date of birth or constitution.
- They have an equity as a result of the contributions of the partners or profits.
- They have legal rights and obligations, depending on the form they take.
In this sense, they have nationality or tax domicile in which they are legally located, a date of birth or constitution, an equity resulting from the contributions of their members and the profits from their economic activity and the aforementioned corresponding rights and obligations.
Examples of legal entity unit
There are different types of legal person depending on the nature of its composition or the direction of the activity taken by said person:
- Commercial companies (companies, large multinational corporations and even sole proprietorships)
- Non-profit organizations (NGOs, foundations, neighborhood associations ...)
- Public entities or entities of the Administrations of the different countries or regions
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