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Piercing the Corporate Veil

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Discuss three factors that a court will use in determining whether to pierce the corporate veil. Cite your sources.

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Solution Summary

This solution explains the factors and reasons why a court would want to pierce the corporate veil. This happens for several reasons and under different circumstances, and is more common with larger companies in the U.S.

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The main element, which is also always the first factor listed when determining if the court should pierce the corporate veil, deals with the corporation's identity. When a court pierces the corporate veil, it generally does so because the executives and others that are in direct control of the corporation's finances have basically merged their own finances and resources from a personal standpoint with that of the company. Under law, a corporation is its own entity. It remains ...

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