<P> Piercing the corporate veil or lifting the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders . Usually a corporation is treated as a separate legal person , which is solely responsible for the debts it incurs and the sole beneficiary of the credit it is owed . Common law countries usually uphold this principle of separate personhood , but in exceptional situations may `` pierce '' or `` lift '' the corporate veil . </P>
<P> Piercing the corporate veil or lifting the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders . Usually a corporation is treated as a separate legal person , which is solely responsible for the debts it incurs and the sole beneficiary of the credit it is owed . Common law countries usually uphold this principle of separate personhood , but in exceptional situations may `` pierce '' or `` lift '' the corporate veil . </P>
what does the term piercing the corporate veil mean
what does the term piercing the corporate veil mean
to treat the rights or duties of a corporation as the rights or liabilities of its shareholders
to treat the rights or duties of a corporation as the rights or liabilities of its shareholders