Veil Piercing
/ˈveɪl ˈpɪərsɪŋ/
Definitions
- (n.) A legal doctrine allowing courts to hold a corporation's shareholders or directors personally liable by disregarding the corporate entity.
The court used veil piercing to hold the owner personally responsible for the company's debts.
Forms
- veil piercing
Related terms
See also
Commentary
Veil piercing is an equitable remedy applied sparingly to prevent misuse of the corporate form.
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.