What is meant by the term "piercing the corporate veil"?select one:a.corporate directors and/or officers may be held personally liable to a person damaged by an act of the corporation.b.corporate shareholders may be held personally liable to a person damaged by an act of the corporation.c.both of the above.d.none of the above?
Typically, a corporation is considered to be a unique and seperate entity from it's Board Directors and Shareholders. "Piercing the corporate veil" is the act of legally holding those Directors or Shareholders personally liable and responsible for the Corporation's actions or liabilities.
