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Briefly describe the five competitive forces identified by Michael E. Porter.
Veil Will Be Pierced
A legal principle that allows for the corporate structure to be disregarded, exposing the shareholders to personal liability, typically in cases of fraud or when the corporation is a sham.
Separate Legal Entities
A status whereby a business is legally considered an independent entity from its owners, allowing it to own property, incur debt, sue, and be sued.
Minimum Contacts Test
A legal standard used to determine whether it is appropriate for a court in one jurisdiction to assert personal jurisdiction over a defendant from another jurisdiction.
Jurisdiction
Jurisdiction refers to the official power to make legal decisions and judgments, often within a specific geographical area or over certain types of legal cases.
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