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1. A corporation is an artificial being created by law that has the right of succession and powers authorized by law.
2. A corporation has a separate legal personality distinct from its shareholders but is not entitled to all constitutional rights that natural persons have.
3. While a corporation's actions may be attributed to it, the courts may pierce the corporate veil and hold shareholders personally liable in cases of fraud or when the corporation is merely the alter ego of its owners.
1. A corporation is an artificial being created by law that has the right of succession and powers authorized by law.
2. A corporation has a separate legal personality distinct from its sha…