Definition - What does Person mean?
Person is any individual or entity, which can enter into a legally binding contract for the purchase and sale of securities.
Testopedia explains Person
A natural person may establish any number of legal entities in order to transact business. Corporations, partnerships and LLC are just some examples. For the various FINRA, NASAA and CFP exams a person not only includes a natural person any entity that may enter into a legally binding contract.