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corporate veil

From Wiktionary, the free dictionary

English

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Noun

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corporate veil (plural corporate veils)

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

Usage notes

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  • 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.
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