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> whose sole purpose of existence is to create profits for its shareholders How can you tell what its "purpose" is? For example, Nike's marketing suggests its
by neolog 6y ago
> whose sole purpose of existence is to create profits for its shareholders
How can you tell what its "purpose" is? For example, Nike's marketing suggests its purpose is manufacturing athletic equipment or promoting youth sports.
- anm89 6y agoNike isn't a person. It doesn't have feelings or opinions or thoughts . Its existence is summed up by legal contracts which are obligations between the shareholders and the corporation and those legal contracts obligate the corporation to act in a fiduciary manner to create returns on the investments. That's how I can tell.
- neolog 6y agoIANAL but I don't think that's what a typical corporate charter actually requires. It's just an opinion some people have about what companies should do.