Contrary to English law, classical fiqh does not have any clear discourse on the issue of the legal entity. In these modern times, however, it is important that this concept be given a jurisprudential review so that Islamic fiqh could keep abreast of the ever-changing and complex problems faced by Muslims. These include the imposition of zakat and the will on institutions and criminal liability of a company. A number of studies have been conducted on this issue and scholars have discussed their differing views. This study contributes to the literature through an analysis of the legal entity based on the views of classical and modern literature in relation to Islamic law and English law. For clarity and better understanding, the study provides a comprehensive picture of the concept by focusing on the notion of business accepted in English law. A qualitative approach had been adopted and the literature was synthesised inductively, deductively, and comparatively. The findings indicate a dichotomous view of the issues surrounding the concept of legal entity. Based on the analysis of the said discourse, it is found that such a concept has long existed and is embedded in Islamic law.