What is a juristic personality of a corporation?

A juristic personality, or legal personality, of a corporation refers to the recognition of the corporation as a distinct legal entity, separate from its owners or shareholders. This status allows the corporation to own property, enter contracts, sue, and be sued in its own name. It grants limited liability protection to its shareholders, meaning they are not personally liable for the corporation's debts beyond their investment in shares. Essentially, a juristic personality enables the corporation to function independently within the legal framework.