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.

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If you test thousands of manufacturers, you will not find two alike.

I know, I know, these are supposed to be clones, but each manufacturer uses its own fabrication process, specific materials and certain design patters.

The corporation is liable for its taxes - not the owner.

This is how corporations may sue and be sued, and their assets are tracked separately.

I know you were all wondering about this and it was about time we clarified this very important matter.

Well, just like all original bags are made differently, with different designs, distinct materials, and various sizes and functionality so are replica purses.

For all intents and purposes, all acts taken by these two company types are taken by the owners themselves.

The company becomes a legal person in its own right, distinct from the This was seen in the famous case of Salomon v Salomon & Co Ltd (1897).

Mr Salomon owned 20,000 £1 shares, and his wife and five children owned one share each.