What is the difference between a natural person and a legal person?

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The difference between natural and legal persons relates, among other things, to the moment they acquire legal capacity. In the case of natural persons, this moment is birth. For legal persons, the acquisition of legal capacity is resolved similarly – a legal person obtains it at the moment of its establishment.

Entities that have legal personality include:

• joint-stock companies (limited liability and European companies),

• state-owned enterprises,

• local government units,

• political parties,

• banks,

• cooperatives,

• foundations,

• universities,

• churches,

• associations,

• trade unions.