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Corporations are headless. A Sole Proprietorship like the one in your example is tied to a single human agent. The Corporation will swap out any human agent who
by erikpukinskis 5y ago
Corporations are headless. A Sole Proprietorship like the one in your example is tied to a single human agent. The Corporation will swap out any human agent who gets out of line.
Although this definition, like all definitions, brings to light uncomfortable corner cases…
Like, is Facebook a corporation, or a Sole Proprietorship?
(I know legally it’s a Corp, but spiritually, is it just Mark Zuckerberg, since he has the controlling stake?)
- PaulDavisThe1st 5y agoOK, so let's take me as an example. For 21+ years, I've "run" a sole proprietorship (i.e. telling myself what to do). Soon, I may convert this into an LLC for various reasons. It's possible that after that, I might actually hire an employee. At what point along the path from where I am now to being the next FAANG do I become "a corporation" in the sense of the comment under discussion? If I have an LLC and 1 employee, legally I'm certainly a corporation, but this seems to not be what the comment was describing?