The Law and You

A Person Identity - Legal Interpretation

A legal person is some who is accountable to the statutory provisions similar to companies and corporations, and has all the rights and privileges of a natural person and is an entity that can sue, or anyone can sue the legal person. If you have a recognized legal personal identity as oppose to your natural human personality, you have certain legal privileges and accountabilities. You can get into a contract, and you can sue. For Businesses, the fundemetals may be the same but commercial litigation is a different beast to civil litigation.

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A constitutional character is a necessity to the judicial role, the capability of any authorized person to alter claims and commitments. Under litigation, there are two types of the legal person; the natural person, and the judicial person. Natural person refers to people whereas legal means a group of people working in the same arrangement such as a corporation. When a person is born, they attain the legal personhood, and for the recognition of constitutional personhood, they must incorporate under the ambit of legal requirements.

The Company Identity

Under the prerequisite of law any form of corporation, association, trust, partnership or any business identity that has statutory standing in law, is having a company identity. The company works under the structure of legal framework and can run business, make partnerships, invest money, and are liable to answer to all their business dealings if the law asks for any explanations or reasoning.

Company Legal Identity

When you talk about business and company, in general, you refer to individual companies that are separate from other ventures when it comes to accountability. Some of the companies that take a legal identity include corporations, limited liability company, partnership, to set the terms of your business and keep it separate from other individual and private companies.

A Person Identity Compared to the Company Legal Identity

There is an array of consideration in both forms. In terms of the law, both are considered independent of each other and have different legal parameters to comply with, whether it is conducting a contract, getting into a financial agreement, or handling a dispute with a person or in case an entity is suing you. You also have to understand the situations where a business formation is not in consideration as having a legal identity. For example, if a person conducts a trade for himself as an individual or as a sole proprietorship, they will not be considered as a legal article. Since the business has no life on its own and is directly a part of an individual owner, it is not under the statutory provisions of having a legal entity. This way one of the purest forms of business remains a sole proprietorship.

In all provision, there are rights and obligations for personal identity and a corporate or company identity. One must have full awareness of the laws and the ambit under which they can function to remain compliant to the regulations. There are also legal agencies that can help people understand their legal and business rights as a legitimate and corporate identity.