Entity is a noun (plural entities)and means - a thing with distinct and independent existence.

Sentences:

The unit has become part of a larger department and no longer exists as a separate entity.

These countries can no longer be viewed as a single entity.

The moon is an entity whose origin is unknown.

Green Lanterns- Willpower, Ion is the Willpower entity

Orange Corps- avarice

Sinestro Corps-fear, the parallax is the Fear entity

Blue Lanterns- Hope, no entity, but are the only ones who can destroy a Red lantern

Red Lanterns- Rage, no known entity, but can steal rings

Black Lanterns- Death, no entity, but claims all dead superheroes.

Star Sapphires- Love, Love entity- Predator.

Indigo Tribe: Unknown.

White Lanterns: Unknown, all DC superheroes are these.

No acronym for WWOEC can be found and it would seem to be an unknown entity. It can not be defined either so we must believe that it is either an unknown acronym or it does not exist at all.

Entity 303 is a fired MineCraft worker and wants his revenge on MineCraft

The monster under the bed is a common fear that many children have. It is often a symbolic representation of their imagination and fear of the unknown. It is not a real physical entity.