The act of disregarding the veil of incorporation to hold members or directors liable under certain circumstances, such as wrongful or fraudulent trading.
Incorporate refers to the act of organizing and being granted status as a corporation, including additional materials in a report, and providing a geographic area legal status.
Incorporation is the process by which a company receives a state charter allowing it to operate as a corporation. It involves legal acknowledgment and the use of 'Incorporated' or 'Inc.' in the company name.
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