Piercing the Corporate Veil – Business Owner Tips

Are you aware that under certain circumstances, a court can pierce your corporate veil, which means that your personal assets are subject to being used to pay your business debt?

Are you aware that there are several factors that a court looks at in determining whether or not your corporate veil will be pierced?

Are you aware that failure to observe corporate formalities, nonfunctioning officers and directors and absence of corporate records are some of the factors the court looks at in determining whether or not your corporate veil will be pierced?

Are you aware that insufficient capitalization, nonpayment of dividends, and siphoning of funds by the dominant shareholder are some of the factors the court looks at in determining whether or not your corporate veil will be pierced?

Spangler and de Stefano, PLLP assists business owners in preventing the piercing of your corporate veil.

The material contained herein is for informational purposes only, and is not intended to create or constitute an attorney-client relationship between Spangler and de Stefano, PLLP and the reader. The information contained herein is not offered as legal advice and should not be construed as legal advice.