Nature of a Corporation
at its simplest, a corporation is an artificial person.
unlike other business models, the corporation has rights similar to that of a human being
a corporation can own property, pay taxes, exist for an indefinite period, sue, and be sued
in 1819, the united states supreme court defined a corporation as an artificial being that is invisible, untouchable, and exists only in the theory of the law.
first and foremost, a corporation is created by statute.
its existence, authority to act, and dissolution are all controlled by statutory law.
statutes give corporations the power to own property, pay taxes, and many of the actions normally associated with a human being.
corporations have a seperate identity from the people who create them.
==============================================
a host of observers worry that corporate rights are going to continue to creep into realms previously reserved for humans.
No comments:
Post a Comment