corporate veil

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Wikipedia

English[edit]

Noun[edit]

corporate veil (plural corporate veils)

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

Usage notes[edit]

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.