OpenCorporates is a renowned brand offering a free and open-source database of Legal Entity Identifier (LEI) information. The LEI system, also known as the Global Legal Entity Identifier System (GLEIS), aims to tackle the challenges associated with corporate identity, especially in the financial markets. The system recognizes that relying on corporate entity names can be unreliable due to abbreviations, name changes, reused names, and multiple legal names in different languages.

The LEI system is being established under the guidance of the G20, with the Financial Stability Board leading the initiative. This federated system involves Local Operating Units (LOUs) issuing LEIs, overseen by a Central Operating Unit. The Global Legal Entity Identifier Foundation, currently in development, will govern the system.

The Regulatory Oversight Committee (ROC), comprising government financial regulators, will provide oversight. OpenCorporates offers a comprehensive view of the LEI system in a user-friendly format. Although the system is still being formed, some pre-LOUs have started issuing LEIs, which can serve as basic identifiers.

OpenCorporates' 'live' dataset not only helps in identifying entities but also addresses data compatibility and integrity issues. The LEIs and data within the system are available for use without any intellectual property restrictions. OpenCorporates is committed to providing accurate and accessible LEI information to support transparency in corporate identification