Think about what would happen if we ended limited liability. Corporations incorporate to get limited liability.
In a general partnership, the partners (the actual owners) are liable for all the crimes and torts committed by the partnership, but when you sue a corporation or charge it with a crime, the stockholders (the actual owners) are not liable.
We should definitely consider abolishing corporations, altogether. We don't need them. Would it be harder for businesses to grow into huge multinational businesses? Maybe. Would that be a bad thing?
Richard
in reply to libramoon • • •Jay Bryant likes this.
David
in reply to libramoon • • •Think about what would happen if we ended limited liability. Corporations incorporate to get limited liability.
In a general partnership, the partners (the actual owners) are liable for all the crimes and torts committed by the partnership, but when you sue a corporation or charge it with a crime, the stockholders (the actual owners) are not liable.
We should definitely consider abolishing corporations, altogether. We don't need them. Would it be harder for businesses to grow into huge multinational businesses? Maybe. Would that be a bad thing?
en.wikipedia.org/wiki/Limited_…
This issue of corporate personhood is involved in both limited liability and in the issue of corporations buying elections.
Revoke all corporate charters, and never issue any ever again!
business structure where shareholders cannot owe more than their stake in a venture
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Muse and Andrew Pam like this.
tomgrzybow
in reply to libramoon • • •like this
Jay Bryant and Andrew Pam like this.