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Economics

Piercing the Corporate Veil

Quick fact

Courts will 'pierce the corporate veil' only in rare circumstances, such as when a corporation is merely an 'alter ego' of its owner, and failing to do so would sanction fraud or injustice. It is an equitable remedy, not a routine creditor's tool.

Why this is interesting

You start a business, things go wrong, and the company owes money it can't pay. You might assume you're protected—but in some cases, a judge can reach through the corporate shield and take your personal assets. How?