Corporations Law Essays

Corporations Law Essays-8
It is therefore not surprising to find that Blackstone's understanding of corporations as legal persons were echoed by the great lawyers and jurists of the founding generation.

It is therefore not surprising to find that Blackstone's understanding of corporations as legal persons were echoed by the great lawyers and jurists of the founding generation.

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In many cases the law justifiably treats the rights of natural persons and artificial persons differently.

It is to say, however, that respect for the rights of corporations, no less than respect for the rights of individuals, is advantageous for our social order and has been essential to America's development as a prosperous, free, and good society.

Uberization threatens to turn jobs into tasks, to the detriment of labor.

Every input into the enterprise becomes possible to rent rather than to buy, and employee-free organizations are increasingly feasible.

They have been since the beginning of the American republic, making corporate personhood deeply rooted in our legal and constitutional tradition.

When conservatives point out, as Mitt Romney notably did in his presidential campaign, that corporations are and should be considered people for certain purposes, they're pointing out what the left seems to have forgotten.Without the corporate form, an association of individuals could not make binding rules to govern its members or internal structure.Without certain rights, it could not hold property indefinitely as an association — the death of the association's members would mean the death of the association.Yet our understanding of corporate governance has not kept pace with the new organization of the economy and we continue to treat the public corporation with dispersed ownership as the default form of doing business.Meanwhile, many of the corporations going public in recent years have abandoned traditional standards of corporate governance and give their founders extraordinary voting shares that effectively guarantee their control in perpetuity.Its roots stretch all the way back through the history of American law and deep into the English common-law tradition.That tradition was captured most comprehensively — and communicated to the American founders most forcefully — by William Blackstone's .There is, moreover, nothing outlandish in Blackstone's view that such institutions should have rights, or that the discussion of those rights belongs in the context of a larger account of the "rights of persons." A corporation is simply a legally recognized group of people cooperating with a view to some common end.Indeed, the very purpose of that legal recognition and the rights that accompany it is to provide a framework for a group of citizens to freely associate with one another in a stable, productive, and harmonious way.Enterprises increasingly resemble a web page, a set of calls on resources that are assembled on demand to create a coherent performance.uring the Obama years, the American left has regularly and forcefully claimed that "corporations are not people." Progressives ranging from ordinary protestors all the way up to President Obama have insisted that, because corporations are not living, breathing human beings, corporate personhood — the idea that corporations have certain legal and constitutional rights — is a fiction.


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