Monica and Monisha are working in an organisation that manufactures industrial machines. One day during the lunch time, they were discussing about the form of the organisation in which they were working. Monica described to Monisha the form of her organisation as one which has an independent status, different from its members. She added that her organisation cannot be held liable for the actions of its members. Monisha further added that the organisation is created by law and could be liquidated by law only. Monica and Monisha are discussing about __________ form of organisation.