An artificial person is also known as a juridical person; it has a legal name and has certain rights, protections, privileges, responsibilities, and liabilities in law, similar to those of a natural person. In other words, an artificial person is a non-human legal entity that is not a single natural person but an organization recognized by law as a fictitious person. In the United States, an artificial person usually refers to “any entities established under the law of the United States, any foreign country, or a state, province, territory, possession, commonwealth, or dependency of the United States or any foreign country, and as to which the government, state, province, territory, possession, commonwealth or dependency must maintain a record showing the entity to have been established.” Specifically, in a business sense, an artificial person is any form of business association and any other non-governmental legal organization, including a profitable or non-profitable corporation, partnership, limited liability company, association, trust, or unincorporated organization.
[Last updated in June of 2022 by the Wex Definitions Team]