"Piercing the corporate veil" occurs when a court allows a creditor or other entity with a claim against the corporation to satisfy that claim agains the assets of individual stockholders of that corporation. The "veil" which is "pierced" is the limited liability protection which the corporate form provides. In this article, Nancy Fallon-Houle gives advice to business owners to help them maintain the corporate limited liability shield.
- Summary by FizzLaw Team
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Steps to Avoid Piercing the Corporate Veil