Search Results for: corporate officer

corporate opportunity doctrine

corporate-opportunity doctrine. The rule that a corporation’s directors, officers, and employees are precluded from using information gained as such to take personal advantage of any business opportunities that the corporation has an expectancy right or property interest in, or that in fairness should otherwise belong to the corporation. • In a partnership, the analogous principle

corporate opportunity doctrine Read More »

piercing the corporate veil

piercing the corporate veil. The judicial act of imposing personal liability on otherwise immune corporate officers, directors, and shareholders for the corporation’s wrongful acts. — Also termed disregarding the corporate entity; veil-piercing. See CORPORATE VEIL. [Cases: Corporations 1.4(1). C.J.S. Corporations §§ 9, 13.] “[C]ourts sometimes apply common law principles to ‘pierce the corporate veil’ and

piercing the corporate veil Read More »

Scroll to Top