Stock Options and Disregarding the Corporate Fiction
Sanno University Bulletin Vol.25 No. 2 February 2005 Stock Options and Disregarding the Corporate Fiction "Disregarding the Corporate Fiction" is useful to solve the problems of incentive stock options. The existence of a company as a separate person, independent of its shareholders is made clear. The "veil of incorporation" tends to protect shareholders, directors and others from responsibility for acts done in the name of the company. In some situations, however, maintaining a rigid separation between the company and those involved in it can lead to absurdity or injustice. Both the Legislature and the courts have, in certain situations, acted to prevent such results. These are usually expressed in terms of "disregarding the corporate fiction," "lifting the veil." 100 2004 9 15 1
1184 10 1 1 A 1 B 1 C 8 1 A 2 2
Sanno University Bulletin Vol.25 No. 2 February 2005 28 34 3
35 84 2 14 36 2 4 29 100 1190 16 1184 3 14 11 26 1106 283 3 14 11 26 1803 2 15 8 26 1838 52 1129 285 3 16 3 16 3 16 6 29? T&Amaster 2004 7 12 074 32 4
Sanno University Bulletin Vol.25 No. 2 February 2005 16 21 1184 38 16 30 1190 16 16 19 1190 16 1190 16 12 16 25 1190 16 38 16 6 29? T&Amaster 2004 7 12 074 32 1169 65 T&Amaster 2004 3 22 059 18 35 46 10 International Taxation 23 39 549 163 75 30, T&Amaster 073 074 16 6 29 38 38 16 2 5
29 2? T&Amaster 2004 7 12 074 32 2004 5 101 103 106 106 106 106 3 16 6 29 3 16 19 15 235 6
Sanno University Bulletin Vol.25 No. 2 February 2005 1190 15 26 13 49 X Y X 10 X S P 1 Y X 7
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Sanno University Bulletin Vol.25 No. 2 February 2005 P X P X X X S P X P X S X S P X 9
P X S P S 100 S P 154 84 93 10
Sanno University Bulletin Vol.25 No. 2 February 2005 155 155 10 X X 10 X X 28 P 1 P P 2 P X 11
X X X X P X X X X P P P X P 136 4 60 100 60 P X 10 12
Sanno University Bulletin Vol.25 No. 2 February 2005 P S S S X 100 60 40 84 X 136 4 31 46 437 8000 13
31 32 X 1190 25 84 93 1 7 11 14
Sanno University Bulletin Vol.25 No. 2 February 2005 7 11 9 5 280 19 13 14 4 1 280 19 2 8 23 35 6 8 7 11 8 29 2 26 8 23 35 6 8 9 29 2 84 10 23 35 6 10 15
84 1 2 84 3 13 84 1 3 1 4 23 35 6 1 2 62 10 30 152 93 X X X X 1190 26 10 11 11 8 23 13 3 13 1 20 10 10 11 2 16 3 15 10 16
Sanno University Bulletin Vol.25 No. 2 February 2005 100 100 ( ) ( ) 17
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Sanno University Bulletin Vol.25 No. 2 February 2005 100 10 11 11 8 23 13 3 13 1 20 10 10 11 2 16 3 15 10 100 100 2002a 20 2002b 108 2002a 175 2002b 171 2002a 20 2002 a 175 2003 65 2004 18 2003a 1 2002 10 2003b 1 2003c 1 2003 10 2003 10 2003 39 2003 163 2003 30 2004 101 2004a 14 2004b 24 1976 174 1980 1 2004 32 2004 101 SO 2004 2004 18, 22 19
2004 18, 22 23 10 2004 18, 24 11 2004b 24 26 12,, 1983 2 1984 1 1986 55 1986b 44 1988 1 1989 124 1991 73 1992a 25 1992b 44 1992 2 1993a 1 1993b 2 1993c 273 2 1994a 161 1994b 38 1994c 48 1995a 67 1995b 29 1995 17 18 1996a 9 1996b 2 1996 2 1997a 187 1997b 4 1995e 17 1997 3 4 1997d 25 1997e 3 4 1997f 1 1998a 6 7 1998b 75 1998 27 1998d 81 1999a 16 1999b 3 1999 90 1999d 105 2000a 3 2000b 57 2001a 3 2001b 6 2001c 64 2001d 43 2002a 4 2002 a 12 2002 c 48 2002d 65 2003a 13 2003b 82 2003c 69 2004a 1 2004b 36 13 1993b 73 107 1983 1984 1986a 746 55 1986b 753 42 1988 1989 1 1 124 1991 1992a 3 2 15 1992b 896 44 20
Sanno University Bulletin Vol.25 No. 2 February 2005 1993a 4 2 1 1993b 1993c 373 2 1994a 5 1 2 161 1994b 942 38 1994c 6 1 47 1995a 16 1 67 1995b ( 7 5 7 9 19 ) 1995c 17 1996a 16 2 1 1996b 17 1 1 1996c 1997a 1582 186 1997b 17 2 67 1997c 288 3 4 1997d 25 1997e 289 3 1997f 18 1 1 1998a 21 292 6 7 1998b 18 2 75 1998-2 2 3 1998c 19 1 23 21
1998d 10 10 1.2 81 1999a 21 19 2 23 1999b 1999c 20 1 83 1999d 91 1999e 1079 54 2000a 20 2 1 2000b 21 1 53 2001a 2001b 21 2 1 2001c 1123 62 2001d 22 1 39 2002a 541 4 2002b 22 2 1 2002c IT 23 12 43 2002d 1154 58 2003a IT 23 2 1 2003b 24 1 81 2003c 1175 66 2004a 24 2 1 2004b 25 1 23 2003 75 30 2003 1169 65 2002 22
Sanno University Bulletin Vol.25 No. 2 February 2005 45 10 2003a 1 35 1 2003b 2 35 7 1 2003c 3 35 1 2002a 2002 12 57 16 175 2002b 2003 1 58 1 171 2003 549 163 2004? T&Amaster 2004 7 12 074 32 1976 1980 32 6 1 2004a T&Amaster 2004 7 5 073 14 2004b T&Amaster 2004 7 12 074 24 SO 2004 SO 3 T&Amaster 2004 8 2 CD-ROM 2004 T&Amaster 2004 3 22 059,18, 22 2002a 2002 2 10 975 20 2002b 2002 10 57 13 108 2003 46 10 2003 International Taxation 23 39 23