Defining The Corporate Veil Its Legal And Ethical...

Defining the Corporate Veil Its Legal and Ethical Boundaries Introduction What is a viable reason for the Courts to pierce the Corporate Veil? The economy improves as businesses expand and increase in revenue. Corporate Social Responsibility (CSR) dictates that corporations go above and beyond in taking responsibility for the effect the corporation on has on the environment and the social wellbeing. With as many people in production, the lower the employment rate can be expected and the better the economy. Through research, we will evaluate and define the Corporate Veil, identify legal and ethical dilemmas and explain legal and ethical business decisions within the business organization. What is the Corporate Veil? A Corporation or LLC allows the individual to become a separate entity from the Corporation. Many business owners and entrepreneur enter a partnership or corporation to protect their personal assets. This is especially important when you are in the business to expand the business and market the product/service. The corporate veil is defined as â€Å"a situation in which courts put aside limited liability and hold a corporation s shareholders or directors personally liable for the corporation s actions or debts† (LII, n.d.). There is an invisible shield that the â€Å"veil† separates the corporate entity and provides protection for the people (directors, shareholders, etc.) also known as the â€Å"alter ego†, and keeps them covered from personal liability behind theShow MoreRelatedWhy Should We Be Ethical? the Relevance of Ethics in Life8703 Words   |  35 PagesUDate and Time of Submission 12/12/2011, 04.30 pm Why should we be ethical? The relevance of ethics in life Biz Ethics IIMK Group a, Section D Ankur dey Tarafdar, PGP/15/204, Ankur Kaithal, PGP/15/205, Bagya Lakshmi, PGP/15/212 Gauri Chodankar, PGP/15/215 Jayntwin Katia, PGP/15/224 Why should we be ethical? - The importance of ethics in life Abstract As Albert Schweitzer puts it â€Å"Ethics is nothing else but reverence for life†. The introduction of ethics in our life is an unconscious processRead MoreGlobal Marketing Management: Planning and Organization4259 Words   |  18 Pagesshares. Then 3M conducted several market studies and it revealed some interesting points. The customers can better distinguish a brand from another if homogenous packaging used and the trends in electronics marketplace are consistent across national boundaries. 3M then developed a global strategy and introduced a global brand identity and packaging for the entire line of products in all country markets. The advertising strategy was developed in global perspective with just necessary tailoring for nationalRead MoreMarketing Management130471 Words   |  522 Pages– an introduction Unit structure: 1. Introduction 2. Learning Objectives 3. Marketing Management 3.1. Evolution of marketing management 3.2. The Role of Marketing 3.3. Marketing concepts 3.4. The Marketing Mix (The 4 P s Of Marketing) 3.5. Corporate Social Responsibility (CSR) and Ethics in Marketing 4. Have you understood type questions 5. Summary 6. Exercises 7. References 1. INTRODUCTION: The apex body in United States of America for the Marketing functions, American Marketing AssociationRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesteaching, as well as for written narrative and analysis. Though they do not exhaust the crucial strands of historical development that tie the century together—one could add, for example, nationalism and decolonization—they cover in depth the defining phenomena of that epoch, which, as the essays demonstrate, very often connect in important ways with these and other major developments. The opening essays of this collection underscore the importance of including the late 1800s in what is best