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The whole point of corporations is that they are organized to do things (leaving good or bad out of it) that a person cannot do
by hammock 3y ago
The whole point of corporations is that they are organized to do things (leaving good or bad out of it) that a person cannot do
- keybored 3y agoBut they’re also legally speaking “people” (persons) just to add insult to injury.
- JumpCrisscross 3y ago> they’re also legally speaking “people” (persons) just to add insult to injury Yes, collective rights exist.
- Retric 3y agoHardly, the point is to allow people to take some risks without risking all their assets. That’s it, that’s the entire point when they were created as people had been pooling assets long before corporations exited. IMO, like bankruptcy laws in general it’s a generally a good idea. Where the nuances exists is what debts can’t be discharged in bankruptcy and at what point you pierce the corporate veil because several things remove the protections offered by creating a company. One of the things we get wrong IMO is I think a corporation should be unable to shield itself from risk by creating another corporation. That creates all kinds of terrible incentives without any real upside.