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The principle in Salomon’s Case that a company is a legally different person from those who control it represents the current law in Ireland.For example, if I form a company called ‘Murphy & Co Ltd’ in which I own one hundred per cent of the shares and am a director and employee, legally speaking the company and myself are two distinct people.

This is how corporations may sue and be sued, and their assets are tracked separately.Separate personality means that the artificial legal person, the company, can do almost everything a human person can do; it can make contracts, employ people, borrow and pay money, sue and be sued, among other things.The ‘veil of incorporation’ is the rather poetic term given to this separation of the company from its shareholders or members.If a corporation is sued, then the owners will not have their personal belongings at risk unless those belongings were purchased with illegal returns from the corporation.In a sole proprietorship or partnership, the owners personally liable.

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