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Corporate Veil

   Also found in: Legal, Wikipedia 0.01 sec.
Corporate Veil
The legal separation of a corporation from its shareholders. That is, because of the corporate veil, shareholders are not responsible for paying the debts of the corporation (beyond the level of their own investment) and generally are not legally liable for any crimes the corporation might commit. While the corporate veil protects shareholders, it may be disregarded under certain circumstances, notably if a shareholder assisted the corporation in the commission of a crime. See also: Piercing the corporate veil.


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The fans would like to see the lifting of the corporate veil and their club run in a responsible and open way.
Corporation assets may be shielded from the personal liability of the owners and assets of the owners may be shielded from company obligations by a corporate veil of protection.
Just this week, five outfits smiling coyly beneath corporate veils notified the Office of the State Engineer that they're going to try tapping water half a mile or more below the surface in the Santa Fe-Espa[+ or -]ola area.
 
 
 
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