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Companies registered under the Companies Acts and other corporations are legal considered people. They have their own legal personality, and so can do business in their own right. But they're not individuals. 'Individual' means flesh and blood, whereas a legal person can be a corporation or other legal entity as well as a flesh and blood person.
Brommers
Probably unrelated, but I thought I heard somewhere that corporations are considered (in some senses of the word) individuals under the law. This is apparently one reason they're such a bitch to deal with.