No, it's just a piece of paper.
Yes, rights/laws/norms/etc are legal fiction. Harm is material. Without harm, there's not much purpose to a legal system. A bad legal system lets someone harm someone else, and then wave around a piece of paper saying "Oh, it was this piece of paper that did it, not me, I'm not responsible!"
A good legal system recognizes that that's absurd. We currently play along far too much, and Citizens United was a breaking point for many people.
Even in our broken legal system, we recognize this fact: https://en.wikipedia.org/wiki/Piercing_the_corporate_veil