What Business organized as a separate legal entity?

A business organized as a separate legal entity refers to a corporation or a limited liability company (LLC). These entities are distinct from their owners, meaning they can own property, enter contracts, and incur liabilities independently. This structure provides limited liability protection to the owners, shielding their personal assets from business debts and legal actions. Additionally, separate legal entities often have more flexibility in raising capital and can continue to exist beyond the involvement of their original owners.