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A body – whether human or non-human – that is recognized by the government asgovernment as:
- having certain privileges and obligations with a capacity to enter into into documented agreements (contract) with other entintites, Legal Entities
- and to claim their its privileges (to sue) , based on contracts
- and to be claimed with their its obligations (to be sued) based on contracts
Legal Entity can be a Physical Person or a Juridical Person (Company).
Some Legal Entities are engaged into Business activities and some are not, as they are not related to production and exchange of products.
See also
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[ Business ] [ Economic Entity ] [ Physical Person ] [ Juridical Person ]