What is piercing the corporate veil?
Piercing the corporate veil should terrify anybody who owns a business and is being sued. Because what that means is that somebody is attempting to get beyond the protections of the business and going after your personal assets. Generally, the reason you have an LLC or corporation is to protect your assets. When somebody is piercing the veil, they are actually trying to say that you were operating or an individual was operating as the corporation and is trying to go after your individual assets.