Corporate personality

Corporate personality is the separate legal existence of a company or other legal entity. It allows the entity to own property, enter contracts, sue and be sued independently of shareholders, members or directors. Limited liability often accompanies this separation, although it is not identical to it. Swiss company law recognizes legal personality for forms such as corporations and limited liability companies once properly constituted. In exceptional cases, courts or statutes may look beyond the entity, for example where separation is abused to evade obligations.