ENTREPRENEURSHIP

Detailed explanation-1: -A corporation is a separate legal entity from its owners. A shareholder is any person, company, or institution that owns at least one share in a company. A partnership in business is a formal agreement made by two or more parties to jointly manage and operate a company.

Detailed explanation-2: -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.

Detailed explanation-3: -A business organized as a separate legal entity owned by stockholders is a corporation.

Detailed explanation-4: -A corporation is a legal entity created under the laws of a particular jurisdiction, usually by filing certain documents with the appropriate government agency. A corporation has certain rights and liabilities that are separate and distinct from those of its shareholders, who are the owners of the corporation.

Detailed explanation-5: -A company and LLP becomes a separate legal entity as compared to its members and partners.