Business administration |
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Management of a business |
In law, a legal person is any person or legal entity that can do the things a human person is usually able to do in law – such as enter into contracts, sue and be sued, own property, and so on.[1][2][3][4][5] The reason for the term "legal person" is that some legal persons are not human persons: companies and corporations (i.e., business entities) are persons legally speaking (they can legally do most of the things an ordinary person can do), but they are not, in a literal sense, human beings.
Legal personhood is a prerequisite to legal capacity (the ability of any legal person to amend – i.e. enter into, transfer, etc. – rights and obligations), it is a prerequisite for an international organization to be able to sign international treaties in its own name.
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