What does "Piercing the corporate veil" mean and how can I avoid it?
As a business owner, it's essential to be aware of the legal principle known as "piercing the corporate veil." This refers to the situation where a court disregards the separate legal status of a corporation, holding the individuals behind the company personally liable for its actions. Piercing the corporate veil can have severe consequences for business owners, putting their personal assets at risk. However, there is a solution to minimize the risk of veil piercing: using a corporate kit from Mark's Corpex. A corporate kit is a collection of documents and tools that are essential for maintaining the proper corporate formalities, such as bylaws, minutes, and stock certificates. These tools help business owners stay compliant with state laws and regulations,...