It’s important to understand, though, that this protection is not impenetrable. It goes without saying that the best way to protect yourself and your shareholders from becoming personally liable for your business’ debts is to not commit fraud or other illegal activities. But, starting and investing in new businesses can be a risky pursuit. Starting a business requires enormous personal and financial commitment. Piercing is more likely when the shareholder in question is an individual rather than another corporation. The corporate veil has a long history of encouraging entrepreneurialism by creating a favorable environment for business owners and investors alike. Law Dictionary & Black's Law Dictionary 2nd Ed. It limits shareholders’ liability to the amount of money they have invested into the corporation. A veil. Piercing The Corporate Veil: What Does It Mean And What Is ... ... Introduction:

If you find your business falls into one of these categories, it is even more essential that you take the steps needed to protect your corporate veil.

commingling the assets of the corporation with the personal assets of shareholders. When shareholders fail to maintain these formalities, it makes it easier for courts to find that the individuals and the company are not separate entities, and thus limited liability protection does not apply. Elite women in ancient Mesopotamia and in the Greek and Persian empires wore the veil as a sign of respectability and high status. Shareholders are shielded from personal liability in the absence of a violation corporate law, such as an ultra vires act, e.g., (Clothing & Fashion) a veil or the fabric used for veils, TME: In the course of your research were you surprised by any, The ministry's office in Sharqeya sent a committee to investigate the forced, England compared 122 interviews in England with 32 in France, Annelies Moors's Face, For instance, a great deal of studies examines the Islamic dress code, with a particular focus on the practice of, The Anti-Burqa Movement in Western Europe' examines the European movement against face, Dictionary, Encyclopedia and Thesaurus - The Free Dictionary, the webmaster's page for free fun content, Veil: the veil has long been the subject of much controversy, seen as a symbol of subservience in some quarters, while a sign of autonomy in others. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Female slaves and prostitutes were forbidden to veil and faced harsh penalties if they did so. The law is also subject to change from time to time and legal statutes and regulations vary between states. While veil piercing is the most litigated issue in corporate law, courts have generally sided with shareholders, maintaining their limited liability in all but the most extreme cases. Related Legal Terms & Definitions. If a business fails to invest or maintain a reasonable amount of money within the company to cover basic expenses and debts, it can appear that shareholders are purposely keeping money outside the business to avoid liability.

There should be no question that you and your business are two distinct entities.

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