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Not really, and they're not exclusive. Before profits comes the company's constitution or charter. Companies are ultimately a vehicle for its shareholder's wish
by jhanschoo 7y ago
Not really, and they're not exclusive. Before profits comes the company's constitution or charter. Companies are ultimately a vehicle for its shareholder's wishes, so you have companies that are very idiosyncratic and companies established for a certain mission, etc.
- notacoward 7y agoThat's true of companies in general, but not of corporations, and we've loaded up the corporate structure with so many advantages that it's a deal hard to resist. There are a very few companies that stay private so that they can pursue goals other than maximum short-term profit at all costs, but as a practical reality corporations are the dominant form of business today. I wish we'd go back to having enforceable time-limited charters, as the only fair trade for all the benefits we extend to corporations, but that's not the world we live in right now.