PIERCING THE VEIL
\pˈi͡əsɪŋ ðə vˈe͡ɪl], \pˈiəsɪŋ ðə vˈeɪl], \p_ˈiə_s_ɪ_ŋ ð_ə v_ˈeɪ_l]\
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A judicial doctrine that allows a plaintiff to hold otherwise immune corporate officers and directors personally liable for damages caused by a corporation under their control. The veil is pierced when officers have acted intentionally and illegally, or when their actions exceeded the power given them by the company's articles of incorporation.
By Oddity Software
Word of the day
hydromorphic
- [Greek] Structurally adapted to an aquatic environment, as organs of water plants.
Nearby Words
- pierced
- piercel
- piercer
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- piercing the corporate veil
- piercing the veil
- piercingly
- piercingness
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