Which entity is included in the definition of 'business entity'?

The definition of 'business entity' encompasses a variety of forms through which business can be conducted, and a corporation is explicitly recognized as one of these entities. A corporation is a legal structure that allows for the separation of personal liability from business liability, providing a more robust framework for conducting business compared to other forms. This separation means that the business's debts and obligations are distinct from the personal assets of its owners, which is a critical characteristic of a corporate entity.

In contrast, while a registered non-profit organization, an individual agent, and a sole proprietorship are forms of conducting business or service, they do not typically fit the legal definition of a 'business entity' in the same structured and liability-limiting manner as a corporation does. Therefore, the inclusion of a corporation in the definition underscores its recognized status in business law and its significance in the landscape of legal entities.