It also serves as a convenient vehicle within the fictional world of commerce, law, government, finance, etc. Through it we can easily buy stuff, get jobs in fictions like various corporations or start our own corporations, trusts etc. within the larger corporations of commerce and government.
It may even at one time have been created as a protection or "fire wall" so that we as living men and women would not be directly accosted by various individuals or agencies, but instead we would have our PERSON being targeted. A bit like someone has a Limited Liability Company to deal with a certain area of his commercial activities, so that he privately can have some value stashed away, in case it all goes tits up. Maybe we still can use it for that purpose.
Here are two videos that may illustrate this more: "Meet your Strawman"
If you want a very good and very thorough explanation of this and much more on how everything has become legal fictions these days, get a drink and some popcorn and put your feet up for an hour to study this excellent video.