*' ,,, ,,,,,,,, ,,,,,,, '7 4"": ,, ,s, ,,,,,,, 7:7" *7 ,,, ,,,r,,,,,,, , Of all the corporate entities, the close corporation runs the highest risk for having its corporate veil pierced. A close corporation is operated by a small group of individuals, usually family members. It is not subject to the stricter rules governing corporations. Thus, abuse of power due to shareholder domination is always a concern. Proper checks and balances may not be in place, so controlling shareholders can operate the corporation without oversight from a board of directors. Instructions a. Review the rubric to make sure you understand the criteria for earning your grade. b. In your textbook, The Legal Environment of Business, read Chapter 12, \"Business Organizations." c. Watch: \"Piercing the Corporate Veil" d. Navigate to the threaded discussion and respond to the following prompts: a. One of the key advantages of forming a corporation is that its owners are immune from personal liability for business debts and other obligations arising from the operation of the corporation. This immunity from personal liability is commonly referred to as the \"corporate veil." Explain why you support the corporate veil or why you do not support such immunity from personal liability for corporate debts and other obligations. e. Your initial post is due by the end of the fourth day of the workshop. Your post should be at least 300 words in length and use two credible sources that are properly cited. f. Read and respond to at least two of your classmates' postings, as well as all instructor follow-up questions directed to you, by the end of the workshop. g. Your postings should also: a. Be well developed by providing clear answers with evidence of critical thinking. b. Add greater depth to the discussion by introducing new ideas. c. Provide clarification to classmates' questions and provide insight into the discussion. d. Each reply post should be at least 100 words in length and use one credible source that is properly cited