Piercing The Corporate Veil

The corporate law concept of piercing (lifting) the corporate veil describes a legal decision where a shareholder of a corporation is held personally liable for the debts or liabilities of the corporation despite the general principle that those persons are immune from suits in contract or tort that otherwise would hold only the corporation liable. This doctrine is also known as "disregarding the corporate entity".
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A legal concept through which a corporation's shareholders, who generally are shielded from liability for the corp's activities, can be held responsible for certain actions.