patrick.net

just bankrupt them and forbid them to start again, with the first damaging lawsuit. What does it bother them, if they have to pay a few hundred thousand bucks from a billion gain? and stop the revolving doors. Ah there is so much wrong in modern society, one does not know where to look first.
What is happening now is just a crying shame. Pfizer has what, 20 some lawsuits against them and they just keep on going making poison !

Originally corporations were given charters for a limited period of time to perform a task (e.g., building transcontinental railroads, etc.). Even the Banks of the United States were given 20-year charters that had to be renewed.

This is in keeping with ancient traditions like the 7-year debt jubilees of the Babylonians. They understood that too much power is dangerous.

The fact that modern corporations are effectively immortal and also considered legal persons is not just a perversion of the 14th Amendment, but of 5000 years of moral history.

stereotomy says

Originally corporations were given charters for a limited period of time to perform a task (e.g., building transcontinental railroads, etc.). Even the Banks of the United States were given 20-year charters that had to be renewed.

Good point. Will add to original post above.

Corporations have to renew their incorporation every year or so already.

UkraineIsTotallyFucked says

Corporations have to renew their incorporation every year or so already.

Which is a trivial task a freshman in high school could do. It's about the fee. I think Stereo and Pat are talking about the public voting on corporate renewal. Not just filing the standard paperwork.

stereotomy says

Originally corporations were given charters for a limited period of time to perform a task (e.g., building transcontinental railroads, etc.). Even the Banks of the United States were given 20-year charters that had to be renewed.

Yep, same thing with tollroad and toll bridge companies. They were allowed to exist to build the item, make a nice profit, and then dissolve and turn over the infrastructure.

AmericanKulak says

Yep, same thing with tollroad and toll bridge companies. They were allowed to exist to build the item, make a nice profit, and then dissolve and turn over the infrastructure.

To government? I actually don't mind paying tolls in IL. I'm also biased as we'll make $200k off the IL toll system next year and $100k this year. I-90, I-290, I-55 are absolute piles of trash in IL road wise. Federal and state funds ain't doing it for those roads. Not that hard to make $20 extra a week to have GOOD roads.

With EV's now as well, tolls are coming to any state in a big way. It's trivial now to scan your plates and toll EV's more. Roads, oil, water, sewer and food are the biggest things that keep this country rolling. The rest is service activities.

@UkraineIsTotallyFucked

Say, since corporate charters are granted by individual states, how does a charter in one state give a corporation the right to do business in another?

Maybe the voting on corporation charters should be per state.

Patrick says

Say, since corporate charters are granted by individual states, how does a charter in one state give a corporation the right to do business in another?

Define 'do business'?

Also: Why do states recognize the driver licenses and car ownership of ppl from out of state? Their birth certificates and marriage licenses?

The rules for corporations can be whatever the fuck we want them to be. Despite SCOTUS' treachery, CORPORATIONS ARE NOT PERSONS. DL's and marriage licenses involve natural (aka REAL) persons, so it's reasonable for married people to expect that their marriage will be recognized by any other state to which they move (although, who knows, maybe AWALT THOTS would love a move to absolve their marriage?)

The important thing that we need to constantly remind ourselves to deprogram our minds is that corporations are LEGAL FICTIONS. Like @Wookieman says, it's "just business." There is no morality, there is no justice, there is no loyalty, it's only all about money when it comes down to brass tacks. "Crimes" against corporations are quite literally victimless crimes because they are committed against these legal fictions.

Patrick says

Say, since corporate charters are granted by individual states, how does a charter in one state give a corporation the right to do business in another?

Contracts Clause of Article I of the Constitution, no state can pass any law "impairing the obligation of contracts."

One state can't stop another states corporation from doing business. They can tax the fuck out of them.

The main reasons for incorporating in Delaware is privacy, no taxes, and it's easy.