Legal entity

(redirected from Commercial entity)
Also found in: Legal, Acronyms.

Legal entity

A person or organization that can legally enter into a contract, and may therefore be sued for failure to comply with the terms of the contract.

Legal Entity

A person who can enter a contract and therefore may be sued. A legal entity can be held liable for damages. It is important to note that a legal entity need not be an individual person. A corporation or other duly constituted organization is recognized as a person and, as such, is considered a legal entity.
References in periodicals archive ?
A commercial entity has a duty to protect someone from harm if the risk of harm is foreseeably and substantially higher than normal conditions.
Security precautions should also reflect the needs of potential plaintiffs with whom the commercial entity has a special relationship.
Commercial Entity contracts with EVOLVENT to prepare their applications to meet stringent Department of Defense Security Requirements
It is also a stamp of approval for Jabber as a commercial entity.
This illustrates that HQ remains subject to the directives of its sole owner, the government of Quebec, and the political and economic objectives of Quebec, despite the goal of the company to operate as an independent commercial entity.
Our stated goal is to be the leading commercial entity focused on the treatment of FMS, and to develop and market the first approved drug for this condition," said Jay D.
The intellectual property gift can represent an opportunity to enhance ongoing research programs, to incorporate cutting-edge technology into the educational experience and to license the donated intellectual property to a commercial entity in return for a significant royalty stream and equity position," Crowell said.
Lederman said "I elected to make this conversion consistent with my original intent to do so at the time when ABIOMED reached certain financial milestones and transitioned into a growing product-driven commercial entity.

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