What is piercing the corporate veil?

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Piercing the corporate veil is a litigation term where one identity tries to pierce the veil or go behind the protection of the company, whether it be a limited liability company, or a sub chapter S corporation or a C corporation, to do away with the protections of the company. In fact, if you are successful in piercing the corporate veil, then the persons, the shareholders, directors or the members become personally liable for the activities or the debts of the company.

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