They also exist for the purpose of continuity beyond the tenure of any individual owner or member. > The corporation itself is a new legal entity Yes clearly.

They also exist for the purpose of continuity beyond the tenure of any individual owner or member. > The corporation itself is a new legal entity Yes clearly. > neither do they cede or grant those individual rights to the corporation I'm sure you would agree that corporations can enter into contracts. This is an individual right granted to corporations. They also have due process rights, unless you think governments should be able to arbitrarily intervene in their affairs. Due process is an individual right granted to corporations. Corporations can sue or be sued in courts of law, again this is an individual right/responsibility. These are all practical things. It would be unwieldy for owners to all have to be individually party to any contract or suit, especially in cases where ownership is distributed through stock. The legal fiction arises out of practicality, centuries of history, and collective exercise of individual rights(as owners of a corporation we all own X, or enter into contract with Y).