When an entity has a formal governance structure, elected leaders, armed security forces, issues its own bonds, negotiates directly with foreign governments, an

When an entity has a formal governance structure, elected leaders, armed security forces, issues its own bonds, negotiates directly with foreign governments, and has a "GDP" greater than most nations, it has a lot more in common with governments than it does with a typical private business. This phenomenon of "private" corporations amassing the power of governments without the responsibilities of governments is a relatively new chapter in history and still needs to be sorted out.