What is entity mean in business term?

Question

What is entity mean in business term?

Answer 1

In business terms an entity is a legal form under which property is owned. The benefits and risks of owning a business or property may vary depending on the entity that is formed. Options include a corporation or S Corporation, sole proprietorship corporation, a joint venture, a limited partnership, a partnership, tenancy in common, joint tenancy, limited-liability corporation, limited-liability partnership, and a Real Estate Investment Trust (REIT).

Answer 2

entity means what does the business and owner have.