Separate legal entity
Introduction 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.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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See also * Types of business entity*