Social:Separate legal entity

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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.[3] It is, for example, able to enter contracts, sue and be sued, and own property.[4] A sole trader or partnership does not have a separate legal entity.[5]

See also

References

  1. ↑ "Separate Legal Entity". http://accountant4me.com/sep_entity.htm. 
  2. ↑ "A Two-Edged Sword: Salomon and the Separate Legal Entity Doctrine". http://www.murdoch.edu.au/elaw/issues/v7n3/puig73a_text.html. 
  3. ↑ "FAQs: Corporations & Business Entities" (in en). https://dos.ny.gov/faqs-corporations-business-entities. 
  4. ↑ "entity" (in en). https://www.law.cornell.edu/wex/entity. 
  5. ↑ "Choose a business structure | U.S. Small Business Administration" (in en). https://www.sba.gov/business-guide/launch-your-business/choose-business-structure. 



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