PIERCING THE CORPORATE VEIL Business & Marketing Term Paper (Term Paper Sample)
discuss "THE CONCEPT OF PIERCING THE CORPORATE VEIL IS TROUBLESOME AND SHOULD BE ABOLISHED, ESPECIALLY IN CORPORATE GROUP" - in 6 pagessource..
"THE CONCEPT OF PIERCING THE CORPORATE VEIL IS TROUBLESOME AND SHOULD BE ABOLISHED, ESPECIALLY IN CORPORATE GROUP"
Date of Submission
"The concept of piercing the corporate veil is troublesome and should be abolished, especially in corporate group"
A limited liability company hereafter (LLC) and a corporation stands outs as businesses that do not pass the liabilities or rights to the shareholders or owners. They are never held liable or responsible for the debts that the business is facing; however the court can uphold such a decision and make them liable (Ramsay & Noakes, 2001, p.251). This means the corporate or LLC is facing piercing the corporate veil. This means that the shareholders or owners are held personally liable for the debts of the business. For a struggling business the most adverse idea would be to pass the liabilities and debts of the business to the shareholders; this is because the business has not been beneficial or generating an income. It would be double burden for the shareholders, members and owners of such business to carry the liabilities of such companies. In this paper, there is a critical discussion of why of piercing the corporate veil is troublesome and should be abolished, especially in corporate group, with respect to relevant case law and statutory provision.
- ANTITRUST PRACTICES AND MARKET POWER Business & Marketing Term PaperDescription: A trust is a plan where owners of a number of companies transfer their power to make decisions to a group of trustees. The firms were investigated for antitrust behavior to ensure they practiced and maintained competitive behavior in all their dealings (O’Sullivan & Sheffrin, 2001)...3 pages/≈825 words| 3 Sources | APA | Business & Marketing | Term Paper |
- CASE STUDY Business & Marketing Term Paper ResearchDescription: The research paper will be based on Goodlife Fitness Center Inc, which stands to be the leading health and Fitness entity in Canada. It is also worth noting that the company is ranked as the fourth largest worldwide. The organization was founded back in 1979, as a sole proprietorship...6 pages/≈1650 words| 5 Sources | APA | Business & Marketing | Term Paper |
- University of Nairobi Fund Raising Event Essay Business Term PaperDescription: St Monica Care and Support Trust intend to conduct a mega fundraiser that will incorporate music artists like Justin Bieber and many more. The venue of the event is at Maryland Stadium, located at 90 Stadium Drive in the College Park, Baltimore, Maryland. The purpose of the fundraising event...15 pages/≈4125 words| 7 Sources | APA | Business & Marketing | Term Paper |