There is a confusing concept for startups that is legal. What is a legal person? What characteristics does a legal person have? Luat Phuc Cau would like to send you the necessary information about the legal person in the article below.

1.What is a legal person?

Article 74 of the Civil Code 2015 provides for the characteristics for an organization to be recognized as a legal person as follows:

– It is legally established as prescribed in this Code and relevant laws;

–  It has an organizational structure;

– It has property independent from other natural and legal persons and bears liability by recourse to its property;

– It participates independently in legal relations in its own name.

2.Characteristics of a legal person

a.The organization is established following the law

– Legally establishment;

– Having a name in Vietnamese. The name must clearly represent the type of organization of the legal person and distinguish it from other legal entities in the same field of activity.

– Use your name in civil transactions.

The legal person’s headquarters is the place where the legal authority of the legal person is located.

b.Having a close governing body and organizational structure

– Having a clear operating charter created by members;

– There is a clear operational organization.

c.Have independent assets and take responsibility for their own assets

– Having independent assets and full rights to use these assets without the control of anyone.

– The property of the legal officer is completely separate from the assets of the members.

d, Have the right to participate in legal relations independently on their behalf

– There may be many legal representatives to participate in juridical relations on behalf of (on behalf of) legal person;

– Have your own seal managed and used by the representative. The legal seal has the value of confirming the legality of documents issued by a legal person.

Please don’t hesitate to contact us if you require any further information!