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Duly Incorporated

Glossary Term

A “duly incorporated” company has properly filed for incorporation, has followed requirements for incorporated companies, and has documentation to evidence those activities.

Corporate Veil

Glossary Term

To “pierce the corporate veil” is to establish that there’s no legal separation between a company and the individuals involved. If a court “pierces the corporate veil”, stockholders may be held personally liable for the corporation’s obligations.