To pierce the corporate veil means to ignore the corporate structure,exposing the shareholders to personal liability.

Question

Quizplus · Accepted Answer

To pierce the corporate veil means that the legal entity of the corporation is disregarded, and shareholders can be held personally liable for the corporation's debts or actions. This is done when a court determines that the corporation was not operating as a separate entity, but rather as an extension of the individual(s) controlling it.

To Pierce the Corporate Veil Means to Ignore the Corporate