(Wex page)

A close corporation is a corporation which is held by a limited number of shareholders and is not publicly traded. A close corporation can generally be run directly by the shareholders (without a formal board of directors and without a formal...

(Wex page)

When someone has a fiduciary duty to someone else, the person with the duty must act in a way that will benefit someone else financially.

The person who has a fiduciary duty is called the fiduciary, and the person...

(Wex page)

Piercing the corporate veil refers to a special instance where the court holds the shareholder or director of a corporation personally liable for the corporation’s debts.

Piercing the corporate veil is also known as veil-...