Thursday, 27 January 2011
Corporations and Power
"A corporation is a formal business association with a publicly registered charter recognizing it as a separate legal entity having its own privileges, and liabilities distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business.
Corporations exist as a product of corporate law, and their rules balance the interests of the management who operate the corporation, creditors, shareholders, and employees who contribute their labour.
An important (but not universal) feature of a corporation is limited liability. If a corporation fails, shareholders normally only stand to lose their investment, and employees will lose their jobs, but neither will be further liable for debts that remain owing to the corporation's creditors.
Despite not being natural persons, corporations are recognized by the law to have rights and responsibilities like natural persons ("people"). Corporations can exercise human rights against real individuals and the state, and they are often responsible for human rights violations.
Just as they are "born" into existence through its members obtaining a certificate of incorporation, they can "die" when they are "dissolved" either by statutory operation, order of court, or voluntary action on the part of shareholders. Insolvency may result in a form of corporate 'death', when creditors force the liquidation and dissolution of the corporation under court order, but it most often results in a restructuring of corporate holdings. Corporations can even be convicted of criminal offenses, such as fraud and manslaughter."
Read more related to Corporations and relevant information:
When we know the rules - we get to know the game being played.
While we are ignorant of the law and how the legal system operates, we can be easily exploited.
The people hold the power and it is up to the people to stand up for their rights. No one - not even a corproation is exempt from facing the consequences of crime.
All it takes is for you to open your mind and relinquish fear. The greatness you fear is within you. The written law is on your side.
Fear and ignorance keeps people feeling small.
Original article edited by Pauline Maria
Copyright 2011 All Rights Reserved
Posted by Lady Pauline Maria