Legal person

A legal person has a legal personality, can act on its own name, exercise rights and be subject to obligations. For a "legal person" to exist, an act of incorporation and usually also a registration is required. A legal person exercises rights and is subject to obligations with regard to the national law of its place of establishment, community law or international law. A legal person can group other legal entities (natural or legal), or contain only possessions (e.g. foundation).