Complete Definition of "corporate veil"

wikipedia|Piercing the corporate veil
English
Noun
corporate veil

  1. law finance The principle of a corporation being a separate legal person from its members (ie. shareholders).

Usage notes
To pierce or lift this veil is (usually for the courts) to "see through" the company and let its members directly be liable for (or benefit from) the company's legal position.

Revision and Credits for"corporate veil"
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