Video

  • 19 minutes

What is Piercing the Corporate Veil and Why Does It Happen

 
What is “piercing the corporate veil?” When the term “pierce the corporate veil” is used, the veil refers to the general rule of limited liability for shareholders or members in the concept of an LLC. This is an important and fundamental element of American economic society. People invest because of this protection. Shareholders or members are not normally liable for the debts of a corporation or LLC. A corporation or LLC is generally recognized as a distinct entity with its own rights, privileges, and obligations. The veil is only pierced when a court concludes that a member or shareholder should be held personally liable for a corporate debt because it should not be considered a debt of the corporation or LLC.

In this video our speaker, Christopher C. Mason, reviews the distinction between veil piercing and other forms of individual liability. He discusses public policy justifications for veil piercing, as well as who seeks veil piercing and why. Mr. Mason wraps up this video by talking about individual shareholders versus parent liability.

Christopher C. Mason is a Partner in the Seattle law firm of Smyth & Mason, PLLC. He is committed to providing practical legal advice that can be effectively implemented. Mr. Mason has litigated and practiced in the area of commercial, employment and tort law throughout his 34-year career. He routinely forms and advises corporations and LLCs and their owners on compliance with applicable laws and defends entities and their owners against claims by creditors and tort victims.
Runtime: 18 minutes

Faculty

Christopher C. Mason

Christopher C. Mason

Smyth & Mason, PLLC

Agenda

Faculty

Christopher C. Mason

Christopher C. Mason

Smyth & Mason, PLLC

  • Partner in the AV rated Seattle law firm of Smyth & Mason, PLLC
  • Committed to providing practical legal advice that can be effectively implemented
  • Has litigated and practiced in the area of commercial, employment and tort law throughout his 34-year career
  • Routinely forms and advises corporations and LLCs and their owners on compliance with applicable laws and defends entities and their owners against claims by creditors and tort victims
  • Prosecutes tort and contract claims against corporations where veil piercing is sometimes sought
  • Represents businesses large and small, the vast majority of which are nonpublic entities
  • Member of the federal and state bars of the state of Washington
  • J.D. degree, Arizona State University School of Law; B.A. degree, cum laude, Bowdoin College
  • Can be contacted at 206-621-7100, [email protected] or through his firm’s website at www.smythlaw.com

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today

Access to all training products $699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.