A moral or legal person, In law, it designates any entity of legal existence, which is constituted by organizations or groups of people, and which is recognized as a specific body with the capacity to contract obligations and exercise rights.
Legal persons do not have a concrete or material existence, as they do not exist as an individual but as an entity, because they are a fiction of law in order to recognize an independent and individual entity, which is endowed with rights and subject to obligations, in the same way than a natural person.
Therefore, a legal person is an intellectual and legal entity, although it generates commitments or obligations similar to those of a natural person before the Tax Administration Service..
In this sense, the legal person is an entity represented and made up of a group of natural persons, on whom the ability to make decisions falls. For this reason, the legal entity may have one or more managers, a board of partners or a board of directors that will assume the responsibility of exercising on its behalf..
Examples of moral or legal persons are an investment company in the stock market, a non-profit institution or NGO or a commercial company. In general, they are organizations or companies that have been formed before the Tax Administration Service of a certain country.
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The attributes of legal persons are similar to those of a natural person, with the exception of marital status. However, for legal persons they are governed by certain rules.
It is similar to the name of the natural person. It is made up of two elements, the name as such and the social system, which is the type of legal person, such as a public limited company, civil society, etc..
The name can be chosen freely. However, if it is a reason, it will be composed according to the rules indicated by law, these rules generally based on the identity of the partners..
It is where society has its management. However, conventional domiciles may also be established and it must also have a fiscal domicile with its particular characteristics..
It is composed of all the rights, assets and obligations valued in money that the legal person possesses, making the clarification that the assets of the legal person is different from that of the natural persons that comprise it..
Finally, there is the capacity of all legal persons. However, it will be restricted to its corporate purpose, and it can only be exercised through its representatives, who are generally its directors and managers..
After the legal entity is constituted, it must be registered in the taxpayers registry, so that it can legally acquire the pertinent obligations and rights as an entity. Depending on the activity to be formalized, the regime can be:
It is for legal persons who have a lucrative purpose. That is, they carry out commercial transactions of services or goods in exchange for an economic benefit. For example, limited liability companies, stock companies, etc..
As its name indicates, it is for legal entities that carry out activities without receiving any type of economic compensation. For example, associations, foundations or civil societies.
It is constituted before an authority by means of a legal act, where the statutes and the rules by which it will be governed and the obligations and rights that it will possess are formally established, by means of a public document.
When the legal person is constituted, each member of the same obtains the ability to contract obligations and acquire rights.
The corporate reasons that have been previously chosen must be proposed in order to carry out the search in the corresponding information platform, this process taking about three business days.
In case all the proposed denominations are already occupied, three different ones will have to be provided to carry out a second search, and so on until a denomination is authorized..
Legal entities are created through social contracts, their general characteristics being similar. These common characteristics that must be addressed when incorporating legal entities are:
- Determine the corporate purpose.
- Choose a legal regime.
- Collect information and documents from shareholders, partners or associates.
- Define what the address will be.
- Establish the form of administration and surveillance.
- Define how the social capital will be integrated.
Based on this preliminary information, the statutes are written and stipulated, preferably with the support and advice of a lawyer or public broker..
The contract to establish a legal entity must be formalized before a notary public and must be entered in the records that disclose this act of incorporation so that everyone can know the existence of the company..
A legal person is in an irregular situation until it is effectively constituted according to the law and is registered in the corresponding registry. This circumstance entails consequences for any act that is carried out on behalf of this legal person.
Partnerships and corporations are examples of legal entities that are recognized as legal entities under the law. In Mexico, both local and federal civil laws consider legal persons to:
- The nation.
- States and municipalities.
- Commercial or civil companies.
- Public corporations.
- Trade unions.
- Mutual and cooperative societies.
- Professional associations.
- Foreign legal persons of a private nature.
Manuel was researching the name for his company. He liked the word "Montañita" very much, because for him it had sentimental value. His company would be dedicated to the production of commercials.
However, that name presented several obstacles. In principle, it was not related to the orientation of the business. On the other hand, it was a fairly common name and he also found that the name "My little mountain" had already been registered, which was an amusement park.
Therefore, the request to use that company name was rejected. A friend suggested that he imagine a name where he could apply his creativity, being inspired by the vision and mission of the business to undertake..
Manuel brainstormed ideas to choose the three options that satisfied him the most: "The best commercials for the consuming public", "Commercials with a creative impact" and "Commercials Dan".
It examined the availability of these options through the portal tuempresa.gob.mx and the company name "Comerciales Dan" was authorized. As this denomination was very limited and did not convince the other partners much; he preferred to desist from this name and make a new request.
Finally, the authorization for use was granted that allowed Manuel to establish the company “Producciones y Promoción Dan S.A. de C.V. ". This company name became so popular that Manuel requested specialized advice to also register it as a trademark.
Physical person.
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