A legal entity is any person or thing that can do the things a human person is usually able to do in law, such as enter into contracts, sue and be sued, own property, and so on. It refers to any business, organization, or individual that must fulfill legal responsibilities per local, state, and federal governing authorities. Legal entities play an essential role in the business world and can own property, sign contracts, sue or be sued, and be held accountable for their actions. There are two kinds of legal entities: human and non-human. In law, a human person is called a natural person, and a non-human person is called a juridical person. Juridical persons are entities such as corporations, firms, and many government agencies. They are treated in law as if they were persons. Legal entities can own property, engage in business, enter into contracts, pay taxes, sue and be sued, and make decisions through agents. Examples of legal entities include corporations, limited liability companies (LLC), partnerships, joint ventures, Massachusetts business trusts, and real estate investment trusts.