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Salomon v. Salomon" is a landmark case in corporate law that established the legal principle of corporate personality, protecting shareholders from personal liability for the company's debts. In 1897, the House of Lords ruled that a company is a separate legal entity from its shareholders, even if the shareholders are a single person, as in the case of Mr. Salomon. This decision has had a profound impact on corporate law worldwide, shaping the foundation of modern business structures. It emphasizes the importance of respecting the distinct legal identity of corporations, ensuring fairness and facilitating economic growth.