03-08-2018, 09:54 PM
Acer wrote:
I've seen where "personhood" of corporations is what shields owners, boards and shareholders from being personally responsible for the debt should the business fail.
Of course, we could just write a law that says as much without giving corporations all the other rights of personhood.
Yep, the laws could just say that you - with others if you so choose - can form this contractual thing we'll agree to call a corporation. The laws can stipulate that part of the contractual language can contain provisions that separate individual capital from corporate capital so that if the corporation goes bankrupt then the individual capital is not part of the corporate assets that would have to go to the corporations creditors.