Showing posts from May, 2015

Why Companies Are Individuals... and Not

Companies are people. And they aren't.

This concept of legal personhood, or legally responsible entity, is embodied in the United States Code:
1 U.S.C. §1 (United States Code): In determining the meaning of any Act of Congress, unless the context indicates otherwise the words "person" and "whoever" include corporations, companies, associations, firms, partnerships, societies, and joint stock companies, as well as individuals; The reason for this artificial legal construct is simple, though many progressives, and more than a few conservatives, fail to understand why the construct is necessary. If corporate entities didn't exist as people, they could not conduct business. Consider everything a company does that an individual does:
Buy property.Pay bills.Enter into contracts.Pay individuals (employees and consultants).Register copyrights and patents.Pay taxes and fees.Pay fines… (yes, that matters). Executives come and go, so suggesting they have the legal ob…