Everything you need to know about what a physical person or natural person and a Legal person are, main definition, characteristics, differences, examples, and more.
Definition of Physical person or natural person and Legal person
What is a natural person?
A natural person or natural person is a term used to refer to any individual or real person who has rights and obligations to society, just for the simple fact of existing.
Individuals are able to fulfill their obligations to take when coming of age and are identified by their name and surname. They also have other attributes to identify themselves, such as nationality, marital status, and heritage.
What is a legal person?
A legal person is a concept with which an organization, company, institution, or similar entity is called, made up of one or more individuals, which has the purpose of developing commercial or commercial activities.
This can be of several types since each type has its own characteristics, rights, and obligations. Among them, there are commercial companies, state entities, organizations that carry out controlled and/or regulated economic activities, or those that undertake non-profit actions, such as NGOs (non-governmental organizations).
A legal person allows these entities to have certain obligations and rights of natural persons, in terms of commercial, legal, and/or economic actions.
Characteristics of Physical person or natural person and Legal person
Characteristics of a physical person
A natural person has the following characteristics:
These are general characteristics of natural persons, however, they may vary according to nationality or if they have more than one nationality, in which case there may be more obligations and/or rights.
Characteristics of legal persons
Legal persons have a series of specific characteristics that define them. Among them, we can highlight the following:
Differences between a natural person and a legal person
A natural person differs from a legal person in the following aspects:
Examples of the natural person and legal person
Examples of the natural person
Here are some examples of natural persons:
Examples of the legal person
There are many legal persons around the world, including: