Essay on The Principle of Separate Corporate Personality

Although courts are reluctant to hold an active shareholder liable for actions that are legally the responsibility of the corporation, even if the corporation has a single shareholder, they will often do so if the corporation was markedly noncompliant, or if holding only the corporation liable would be singularly unfair to the plaintiff. The ruling is based on common law precedents. In the US, different theories, most important "alter ego" or "instrumentality rule", attempted to create a piercing standard. Generally, the plaintiff has to prove that the incorporation was merely a formality and that the corporation neglected corporate formalities and protocols, such as voting to approve major corporate actions in the context of a duly authorized corporate meeting. This is quite often the case when a corporation facing legal liability transfers its assets and business to another corporation with the same management and shareholders. It also happens with single person corporations that are managed in a haphazard manner. As such, the veil can be pierced in both civil cases and where regulatory proceedings are taken against a shell corporation.

The collection of private, commercially oriented organizations, ranging in size from sole proprietorships to large corporations is referred to as

Findlay, C., & Warren, T. (Eds.). (2013). Impediments to Trade in Services: Measurements and Policy Implications. Routledge.

The legal decision to treat the rights or duties of a corporation as the rights or liabilities of its directors is called piercing the corporate veil or lifting the corporate veil. A corporation is treated as a separate legal person for the sole responsible of debts incurred. Corporations are

This is a New York Court of Appeals decision in 1926 adjudicated by the legendary Justice Cardozo. In this seminal case on ‘piercing the corporate veil’, the Court of Appeals finds in favor of the Defendant, Third Avenue Railway Company. The Court holds that Third Avenue, the parent company of Forty-second Street Company, which operated a rail line upon which the Plaintiff was injured, was not liable for the torts of the subsidiary. Even though the defendant owned all the stock of the subsidiary and controlled its Board of Directors, the degree of domination over the subsidiary was not considered

The word ethics has many definitions depending on who you are speaking with and if it is business related. One person may tell you that ethics has to do with what is right and wrong. Another may say it has to do with that law of the land. In fact there are many interpretations and definitions for ethics. In Corporate Communications there is a totally different set of code of ethics. The standards for professional communicators are similar to each other and they also have their differences in relation to their actual profession. I am going to compare and contrast the different codes of the major

The typical business man involved in corporate America works anywhere from six to ten hours per day. Phil, “the Company Man” worked six days a week sometimes until eight or nine at night, making himself a true workaholic. Using his life story before he died Goodman is able to convey her liking toward Phil but her dislike of what the business world has turned him into. Not only does Goodman use a number of rhetorical devices but she also uses Phil’s past as well as the people who were once in Phil’s life to get her message across to her reader. Ellen Goodman sarcastically creates the obituary of a man who dedicated his life to his job and the company he worked for. Goodman uses anaphora, satire, diction,

In the “Corporate Roles, Personal Virtues: An Aristotelean Approach to Business Ethics,” Robert Solomon argues that toughness is a virtue, but callousness and indifference is not. Solomon views the Aristotle approach the proper way, because it considers both personal and business values. However, Albert Carr argues that business and personal ethics don’t mix; and game-strategy in business leads to success. In this paper, I will argue that Carr prevails Solomon’s business ethics and his claim.

One thing the organization could do to raise the gender consciousness would be to do an ongoing series of sensitivity training for all staff. Along with this training would be annual assessment seminars that will teach people the different types of discrimination and harassment and the steps they need to take when such a situation is posed upon them. In the Cancer center where I am employed, women make up nearly 70% of the managerial and supervisory staff in all departments. At the executive level they only make up

I find it ridiculous that I have to say this: corporations are not people. And yet, the supreme court seems to disagree. In 2010, the supreme court ruled in Citizens United v. Federal Election Commission that grants corporations the rights of citizens. Since then, many people have rightfully asked for the abolition of Corporate Personhood. Corporations are not sentient beings and have no moral code or understanding of the law; therefore, they are not responsible for any legal discretions: people running the corporations are. People can consciously make decisions that are harmful to others but may never have to reconcile for it because they were doing it under the company. Here’s the thing: corporations can't go to jail. The only way to make corporations pay is to literally make them pay fines. Even lawsuits worth millions of dollars can be nothing to large companies with vast amounts of wealth. Corporations will just pay the fines and continue functioning as before.

American Individualism is a powerful thing; it can lead many to marvelous successes in life, but for some, it becomes a path straight towards destruction. In Death of a Salesman by Arthur Miller, the character Willy Loman finds himself on that latter path, pushed towards disaster and failure by his skewed view of American Individualism. This blame can also be seen in Willy’s family life, the lying and tall tales to further his reputation, and the way that Happy represents Willy.

First and foremost, it is critical in the pursuit of a full understanding of the principle of the corporate veil for the reader to appreciate that no strict and clearly defined rule for its application exists. This is evidenced from the manner in which it is employed, in our courts and abroad. Smith and Keenan in recognition of this state of affairs note that it is difficult to presume a specific formula exists. They further hold that the piercing of the veil can be viewed as a “tactic used by the judiciary in a flexible way to counter fraud, sharp practice, oppression and illegality.”

There is no clear framework of the rules that would cover the contingencies of a ruling to pierce the corporate veil Idoport Pty Ltd v National Australia Bank Ltd. The corporate Veil usually protects owners and shareholders from being held liable for corporate duties. Yet again a decision made by the court to lift that veil and would place the liability on shareholders, owners, administrators, executives and officers of the company without ownership interest. The purpose of this essay is to conduct an analysis on the concept of lifting the corporate veil and to review the different views on its fairness and equitability to present a better understanding of the notion, the methods used was throughout researching the numerous scholars views on the subject, case law and statutes examples, and the evidence provided by the empirical study of Ramsay & Noakes. When we discuss the lifting the corporate veil the first case that pops out is the case of Salomon V A. Salomon & Co Ltd, since the decisions of applying the corporate veil were first formed as a consequence of this case. The idea covers all of company law and distinguishes that a company is a separate legal entity from its members and directors. Furthermore, spencer (2012); have indicated that one of the core principles that followed the decision in Salomon v Salomon was the wide acceptance one man company’s. However In order to form a

The culture of an organization is the set of values, beliefs, behaviors, customs, and attitudes that helps its members understand what the organization stands for, how it does things, and what it considers important"(Griffin, 49). In other words, "the way things work around here" (Dr. Williams). In order for any small business or large corporation to be successful, the employees must understand what is expected of them. While things might be slightly different in a large corporation versus a small "mom and pop shop", the goal of both is the same. MAKE THE BUSINESS MONEY. The topic of my paper will be on makes a good corporate culture.

Proponents of the knowledge-based theory of the firm point out that this one sided concentration on incentive conflicts in the economics of organizational literature overlooks the production side of the firm. Langlois and Foss, for example, argue that the literature has unreflectively relied on a dichotomy between productive aspects and exchange aspects of the firm, that is, on a dichotomy between production costs and exchange costs. In analyzing exchange costs the literature recognizes that exchange itself is not costless, but involves transaction costs from imperfect knowledge and opportunism. But in analyzing production costs, there has been an embedded agreement that price theory tells us all we need to know about production. As Langlois and Foss point out, however, it is very likely that knowledge about how to produce is imperfect and that knowledge about how to link together one person’s (or organization’s) productive knowledge with that of another is imperfect. These twin issues of capabilities and coordination are discrete from the hazards of astringent that other traditional beliefs have focused on. Both knowledge resources and (imperfect) production costs can be said to vary depending on the attributes of a production process, in the same way that transaction costs differ depending on the asset attributes of investment projects. Thus, instead of holding technology constant across alternative modes of organization as a