Corporate Veil
/ˈkɔːrpərɪt veil/
Definitions
- (n.) A legal concept that separates the personality of a corporation from the personalities of its shareholders, protecting shareholders from being personally liable for the company's debts and obligations.
The court pierced the corporate veil to hold the shareholders personally liable for the company's debts.
Forms
- corporate veils
Related terms
See also
Commentary
Use 'corporate veil' to discuss protections or disregarding thereof; avoid conflating with 'limited liability' although related concepts.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.