Commercial Legal Terms and Legal Words. Business Law Terminology

alter ego

under this legal doctrine a corporation uses its corporate status to shield someone’s personal business deals. Normally, a corporation is treated as an entity separate from its creators and the shareholders are not personally liable for corporate obligations. But in some rare instances, a court will “pierce the corporate veil” and hold a shareholder liable … Full Definition »

Law topic: Commercial << Legal issue: Business Law

corporate opportunity

Corporate opportunity is the legal concept that prevents directors and officers of a corporation from appropriating certain business opportunities for their personal gain. As an employee, directors and officers of a corporation owe a fiduciary duty to the company (perhaps the highest level of duty imposed by law), the fiduciary can not take for him/her a … Full Definition »

Law topic: Commercial << Legal issue: Business Law