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Piercing the Corporate Veil: Can it be done?

The corporate veil, one of the bedrock principles of business law, holds that the owner of a corporation or other similar business entity is not personally responsible for the company’s liabilities. This is one of the reasons why people were encouraged to start businesses in the first place. However, the corporate veil is not absolute.

Although it is difficult, courts can pierce the corporate veil if the high burden of proof is met, as shown by the below infographic:

clientuploads/Publications/Can the Corporate Veil be Pierced Thumbnail.JPG

(Click to view larger.)

This topic is covered in depth in the first issue of BGD Magazine. Click here to read more.

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