How is a corporation treated as an individual?

A corporation is treated as a legal entity separate from its owners, meaning it can own property, enter contracts, sue, and be sued in its own name. This concept, known as corporate personhood, allows corporations to have rights and responsibilities similar to individuals, such as the ability to protect intellectual property and engage in legal proceedings. However, it also limits the personal liability of shareholders, protecting their personal assets from the corporation's debts and obligations.