On the other hand, it may be the person (real or fictitious) in whom an imitation or reproduction of another is identified or recognized. The concept is used to name a person in what is it absolute confidence, allowing you to do yourself without restrictions. For more information about alter ego liability, send us a message. Alter ego is a Latin phrase that can be translated as the other me. The alter ego doctrine’s purpose is to protect creditors who were unjustly defrauded by allowing them to pierce the corporate veil and hold shareholders’ liable. An alter ego means an alternative self, which is believed to be distinct from a persons normal or true original personality. And while some are regional, and some certainly make more sense than others. Whether you love a tipple on the reg or seldom touch the naughty water, the different ways of saying drunk names are hilarious no matter how many draaanks you’ve consumed. To hold corporations or businesses legally responsible, the plaintiffs would have to establish, among others, these two primary factors:Ī plaintiff must prove that any separation between the individual and the corporation either never existed or ceased to exist and that recognition of a legal separation would result in injustice.Īn example would be if an owner of a corporation used corporate funds for personal, non-corporate, reasons or purposes. 110 Funny Drunk Alter Ego Names and Phrases. Consulting with an experienced business litigation attorney is critical to a case’s success. These cases are extremely nuanced and complex. The courts determined that the law should hold individual shareholder’s personally liable for a corporation’s obligations and debts if it is deemed that the corporation is merely an alter ego for that owner. In those particular circumstances, the shareholders may be held liable under the alter ego doctrine. noun: a very close and trusted friend who seems almost a part of yourself companion other side to personality. Try to come up with a name that is significant for you and has meaning. alter ego Definitions and meaning in English. Owners, partners or shareholders are not usually liable for debts or obligations of their corporations, unless they are using that corporation as a way to scam or defraud creditors. The more details you can provide for your alter ego, the easier it will be for you to inhabit their character. The “alter ego” doctrine was developed by the courts as a way to disregard the typical “separate legal entity” distinction. Hence, a person acting differently, who is not willing to accept his or her own.
What is alter ego liability and how does it work? Typically, a business is considered a separate legal entity from owners and shareholders, but in one particular scenario, this may be disregarded. It also means that a person has various facades of his or her personality. Most of the time individual shareholders are shielded from liability under the corporate veil, but with the creation of the alter ego doctrine creditors have some recourse.
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