The term 'Alter Ego' refers to a legal doctrine that allows courts to disregard the distinct legal identity of a corporation and hold its shareholders or directors personally liable for corporate actions.
The corporate veil is a legal concept that separates the actions and liabilities of a corporation from its shareholders or officers, offering them protection against personal liability. Courts may pierce the corporate veil to hold individuals accountable for a corporation's actions.
Piercing the corporate veil refers to the legal decision to hold shareholders or directors personally liable for the debts and obligations of the corporation. This process is invoked by a court to disregard the separate legal corporate entity status typically afforded to corporations.
