The definition of legal entity is quite simple in Ukraine. This is “an organization established and registered according to the procedure specified by the law” (Art. 80 of Civil Code). Also, legal entity is vested with legal capacity and capability and may act as a plaintiff or a defendant in the court.
Legal entity may be created by integration of natural persons and (or) the property and shall be divided to the legal entities of the Private Law and those of the Public Law.
Legal entities may be created in the form of partnerships, institutions and other forms established by the law.
A partnership is an organization created by uniting persons (participants) with the right to the participation in this partnership. The partnership may be organized by one person.
The partnerships carrying out the entrepreneurial activity with the purpose of receiving profit and subsequent distribution thereof among their participants (entrepreneurial partnerships) may be created solely as economic partnerships (general partnership, limited partnership, limited liability partnership, additional liability partnership, joint-stock partnership) or production cooperatives.
Non-entrepreneurial partnerships are the partnerships not aimed at the receipt of profit for the subsequent distribution thereof among their participants.
Institution is an organization created by one or several persons (founders) who do not participate in management thereof by uniting (separation) their property with the purpose of achieving the goal specified by the founders at the expense of this property.
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