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legal entity
(redirected from Separate legal personality)

   Also found in: Financial, Wikipedia 0.01 sec.


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1 KJE2448 Piercing the corporate veil refers to those exceptional cases wherein limited liability is lifted and the separate legal personality of corporations is disregarded such that the shareholder, which may be a parent corporation, is held responsible for a company's debts or actions.
 
 
 
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