An incorporated entity is an LLC, corporation, or some other entity other than a human that is given legal status as a separate, fictional person. It is a legal person on paper that can own property, engage in commerce, enter into contracts, and sue and be sued. Incorporated entities exist as a convenience for the orderly operation of a modern society in which it is often useful to separate certain legal rights and responsibilities from the individuals who ultimately exercise those rights and responsibilities.

Types of incorporated entities include LLCs, corporations, nonprofit corporations, and limited partnerships.

It DOES NOT include sole proprietorships or general partnerships, which are both unincorporated business interests.