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Separate legal entity

From Wikipedia, the free encyclopedia

In the United States, a separate legal entity (SLE) refers to a type of legal entity with detached accountability. Any company is set up as an SLE to legally separate it from the individual or owner, such as a limited liability company or a corporation.[1][2]

If a business is a separate legal entity, it means it has some of the same rights in law as a person. It is, for example, able to enter contracts, sue and be sued, and own property. A sole trader or partnership does not have a separate legal entity.

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Transcription

References

  1. ^ "Separate Legal Entity". Retrieved 19 December 2009.
  2. ^ "A Two-Edged Sword: Salomon and the Separate Legal Entity Doctrine". Retrieved 19 December 2009.

See also


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This page was last edited on 3 August 2021, at 04:16
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