What is the difference between a legal entity and an individual?

Question

Law in IT

There is a need to legalize their activities (I provide services for the purchase of electronics through an online store). But I can not understand the difference between FLP and IP. As I understand it, FLP is an individual (the abbreviation is the same), and IP is a legal entity.
How do I determine what I need to register?

Answer 1

I will continue my previous comment.
As an individual entrepreneur, you are responsible under the contract with your property (an apartment, a car, a wallet). If, God forbid, you find yourself in a situation of non-fulfillment of obligations under the contract, then the company through the bailiffs will collect from you everything to the penny with your property (unless, of course, there is something to take)
As an LLC under the contract, you are liable only for the amount of the authorized capital and the property of the company in Russia, the minimum amount authorized capital of 10,000 rubles. If you screwed up, give back only 10k if there is no expensive property on the company's balance sheet.
Legal entities in Russia can be commercial and non-commercial.
Commercial: general partnerships, limited partnerships, LLC, Additional Liability Company (ALC), Joint Stock Companies (JSC), OJSC, CJSC, Production Cooperatives, State and municipal unitary enterprises.
Non-Profit: Consumer Cooperatives, Public and Religious Organizations, Foundations, Institutions, Unions and Associations, Public Entities.
As a novice entrepreneur, two are suitable for you: IP and LLC. If the risks in doing business are small, then I would advise you to be an individual entrepreneur. With tax fuss less, everything is easier and faster.
LLC - if contracts for large sums, work with state companies and large federal companies, they sometimes do not even consider individual entrepreneurs as partners. But with an LLC there is more fuss both in terms of documentation and in terms of tax.
You choose