One of the blessings for corporate planners has been the law’s recognition of the corporation as a separate entity, thus allowing them to apportion its assets to attain maximum economic efficiency. As a fundamental principle of corporate law, limited liability has acquired novel dimensions in today’s commercially and economically vibrant world. Not only has the doctrine been the cornerstone of major corporate and entrepreneurial advancement, it has also been heavily criticized and discussed upon. In the context of the nature of complexity of organizational structure, what becomes an exigent issue is to fasten liability on the rightful obligors of the risks, and thus protect creditors and stakeholders from bearing the burden of unwarranted loss to an enterprise.