The process by which the court disregard the separate legal personality of a company or a close corporation in order to hold individuals liable is known as?

Question: The process by which the court disregard the separate legal personality of a company or a close corporation in order to hold individuals liable is known as?
The process by which a court can disregard the separate legal personality of a company or a close corporation to hold individuals liable is known as “piercing the corporate veil.” This legal concept allows courts to look beyond the company’s status as a separate legal entity and hold the shareholders or directors personally responsible for the company’s actions or debts. It is typically invoked in situations where the company is being used for fraudulent or improper conduct, or where a company is a mere façade concealing the true facts. Piercing the corporate veil is a remedy applied in exceptional circumstances to prevent misuse of the corporate structure to evade legal obligations.

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