Separate legal identity
What Separate legal identity means in Business GCSE, as defined for AQA.
Definitions of Separate legal identity
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Reference: AQA
The company is separate from its owners, so the company itself can own assets, sign contracts and be sued.
The incorporated business is legally distinct from its owners.
Topics that use Separate legal identity
- Business ownership (AQA GCSE)
Related terms
- Conflict and agreements
- Dividend
- Incorporated structures
- Incorporation
- Liability and risk
- Limited liability
- Not-for-profit organisation
- Partnership
Using Separate legal identity in the exam
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