Legal Definitions - corporate immunity

Corporate immunity is a type of immunity that provides protection to a corporation or its officers from being held liable for certain actions. Immunity means exemption from a duty, liability, or service of process. For example, a corporate officer may be immune from personal liability for a tortious act committed while acting in good faith and within the course of corporate duties.

Example: A CEO of a company is not held personally responsible for a decision that results in financial loss to the company, as long as the decision was made in good faith and within the scope of their duties.

This type of immunity is granted to protect the corporation and its officers from being held liable for actions that are necessary for the corporation to function. It is important to note that this immunity does not protect corporations or their officers from criminal liability or intentional wrongdoing.