The fear is that this would enable companies to directly lobby against any law that they don't like. For example, Google or Facebook might go against a privacy

The fear is that this would enable companies to directly lobby against any law that they don't like. For example, Google or Facebook might go against a privacy law being enacted in a country, because that obviously directly lowers their revenue. Or a manufacturing company might go against worker protection laws, because that means that they have to invest more money. Or a fast-food chain might go against a ban on unhealthy ingredients, just because that would cause their prices to raise. And even if it isn't that simple, and a law really has to be unfair for a specific company, then there are still certain things that need to be done, which are simply unfair. I'm thinking of anti-monopolization measures here. It's certainly not fair to penalize a company, just because it has reached a market share of close to 100%, but you kind of have to do it anyways.