Corporate entities are legal structures that allow individuals to conduct business as a separate entity from themselves. This means that the corporation can own property, enter contracts, and be liable for debts independently of its owners. Common types of corporate entities include limited liability companies (LLCs), corporations, and partnerships. These entities provide various benefits, such as limited liability protection for owners, which means personal assets are generally protected from business debts. Additionally, corporate entities can raise capital more easily through the sale of shares or attracting investors, making them a popular choice for many businesses.