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
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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 »
Colin N GothamAttorney at LawPRACTICE AREA: Bankruptcy Law, Business Law, Trusts & Estate Planning, Litigation
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