- entity
- an individual ( sole trader), partnership, a body corporate, a corporation, an incorporated association or body of persons, a trust or superannuation fund. Glossary of Business Terms
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1. used to talk about any business that is a single unit from a legal or financial point of view:• The thrift was declared insolvent and merged with seven other Texas thrifts into a new entity.
ˈbusiness ˌentityACCOUNTING LAW a company involved in the production, buying, and selling of goods or services for profit:• AT&T's recent reorganization into a much more efficient and competitive business entity
ˌlegal ˈentity ACCOUNTING LAWan organization considered as a separate independent unit for legal purposes:• Having to keep separate legal entities in every state contrasts sharply with our integrated European operation.
2. the entity convention the principle that a business is separate from the people who own it, so that they do not have to use their own money to pay the company's debts* * *
entity UK US /ˈentɪti/ noun [C] (plural entities) FORMAL LAW, ACCOUNTING► an organization or a business that has its own separate legal and financial existence: »Nearly 90 entities, mainly private companies, mint gold in bars.
»a commercial/corporate entity
»a private/public entity
»a small/large entity
»an independent/separate/single entity
Financial and business terms. 2012.