Accounting: separate economic unit subject to financial measurement for accounting purposes. Examples are a corporation, partnership,sole-proprietor, and trust.
Legal: individual, partnership, corporation, and so on, permitted by law to own property and engage in business. Affiliated legal entities such as those consolidated for financial reporting may exist. Here, two or more companies operate under common control.
legal form under which property is owned. The benefits and risks of owning a business or property may vary depending on the entity that is formed. Options include a corporation or S Corporation, sole proprietorship coporation, a joint venture, a limited partnership, a partnership, tenancy in common, joint tenancy, limited-liability corporation, limited-liability partnership, and a Real Estate Investment Trust (REIT).
the legal form under which property is owned.
Examples: The benefits and risks of owning real property may vary depending on the entity that is formed. Among the options are:
- corporation
- individual ownership (see tenancy entries)
- joint venture
- limited partnership
- partnership
- Real Estate Investment Trust
