Definition of corporate veil in English:

corporate veil

noun

  • (In Corporate Law) used with reference to the treatment of a corporation as an entity separate from its directors and shareholders, thus protecting them from personal liability for the company's debts and other obligations; frequently in "to pierce (also lift, etc.) the corporate veil" to identify the rights or duties of a corporation with the rights or liabilities of its shareholders or directors in certain circumstances.

Origin

Late 19th century.