Legal Entity
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A Legal Entity is an individual, group of persons, or organization that has legal rights and obligations related to agreements, contracts, payments, penalties, etc. The term Legal Entity refers to any organization which is constituted as per the regulations and laws under the Government of India.
There are different types of Legal Entities with specific privileges and responsibilities. Companies registered under the Companies Act 2013 are the most common types of legal entities in India.
Some of the Legal Entities are:
- Private Limited Company
- Public Limited Company
- Partnership
- Sole Proprietorship
- Limited Liability Partnership
- One Person Company
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