Revamping Veil Piercing for All Limited Liability Entities: Forcing the Common Law Doctrine into the Statutory Age

Abstract:     
This article proposes that legislatures adopt a statutory provision codifying the best aspects of the veil piercing doctrine. The article beings with a brief history and description of the new limited liability entities and discusses some of the basic theories supporting limited liability. A genearl overview of the veil piercing doctrine and its likely application to these new entities follows. Finally this paper argues that the time is ripe to explore and implement ideas for accomplishing the goals of veil piercing in a more consistent manner.

Number of Pages in PDF File: 42

Keywords: Corporate, Veil Piercing, Doctrine of Corporate Disregard, Limited Liability Entities

JEL Classification: Z00

Accepted Paper Series