Corporate Personality

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The legal concept of corporate personality shows the power of the human intellect to concoct fantastic concepts that fly in the face of logic, but work perfectly because they satisfy commercial objectives.

During the 19th century, fierce theoretical battles were fought on questions such as whether we should treat supra-individual and non-individual entities as “persons”, under what conditions we should recognize their personality and what should be the legal consequences of such recognition. But no matter how interesting this debate must have been, to revive it is tantamount to becoming a public menace.The debate is dead and buried.

A limited liability company , once incorporated, becomes a person at law separate and distinct from its owners and shareholders, with the right to sue or be sued in its own name, the right to buy, own and sell property in its own name, and can be held liable or guilty for a crime committed in its name.

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