Veil of Incorporation
/ˈveɪl əv ˌɪnkɔːrpəˈreɪʃən/
Definitions
- (n.) A legal concept shielding corporate shareholders and directors from personal liability for the company’s debts and obligations.
The court pierced the veil of incorporation to hold the owner personally liable.
Forms
- veils of incorporation
Related terms
See also
Commentary
The veil of incorporation is a foundational principle in company law; courts pierce it only in exceptional cases to prevent misuse or fraud.
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.