Corporate legal personality pdf
As we noted above, the five core structural characteristics of the business corporation are: (1) legal personality, (2) limited liability, (3) transferable shares, (4) centralized management under a board structure, and (5) shared ownership by contributors of capital. Corporate Personality Arthur Machen , Harvard Law Review, Vol. 24, No. 4 (part 1) and 5 (part 2) Part 1 From the earliest period of our judicial history, lawyers and judges have reiterated the doctrine that a corporation is an intangible legal entity, without body and without soul. In almost Athanasian terms, the orthodox doctrine of. The doctrine of the lifting the veil of corporate personality is a doctrine that advocates going behind and looking behind the juristic or corporate personality of a body corporate. Undoubtedly, as a general rule, a company is a person distinct and separate from its members.