Comments on: When did courts give corporations the status of a person and more? http://www.drainclearance.org/when-did-courts-give-corporations-the-status-of-a-person-and-more/ Blocked Drain Clearance Articles Sat, 06 Sep 2008 16:19:16 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Simeon Clayton http://www.drainclearance.org/when-did-courts-give-corporations-the-status-of-a-person-and-more/comment-page-1/#comment-115 Simeon Clayton Wed, 06 Aug 2008 14:45:30 +0000 http://www.drainclearance.org/when-did-courts-give-corporations-the-status-of-a-person-and-more/#comment-115 Corporations were originally established by Royal Charter, just like towns guilds for which the crown received payment recurrent payments. Then Parliament took over the issuance of charters (after the unpleasantness with King Charles I). Parliament you may recall was in the hands of the merchant class. Some geniuses in Holland England in order to finance the private exploration of the New (and ancient Asian) World came up with the idea of the the Limited Liability Corporation. It was a major advance in capitalism because it allowed merchant adventurers to invest in exploration and exploitation of new lands and businesses without risking everything they owned. This allowed the massive accumulations of capital necessary to build railroads, shipping lines factories that in turn allowed people to advance from subsistence economies to modern specialized ones. Anyway, the process was well along Limited Liability corporations were the rule when the US states took over the functions of Parliament state legislatures began issuing charters. Sometime in the mid-early 19th century lawyers, bankers legislatures got the idea that instead of having to pass a bill creating every corporation, the legislature could simply pass a corporation act, that would allow people to set up their own corporations by just meeting the requirements of the act -- which usually involves recording a charter with the State government paying an annual fee. From the beginning, the directors of corporations were hired by the share owners for the benefit of the shareowners. Their SOLE duty is to the interests of the shareholders, and always have been ever since the King Parliament gave up their power to appoint them. It only makes sense, as they are hired and paid with the shareholder's money no one else's. The in 1886 the US Supreme Court in the case of Santa Clara County v. Southern Pacific Railroad Company, ruled that the 14th Amendment to the US Constitution which was intended to give equal rights to freed slaves, also gave them to Corporations! It was something of a shock to most state legislatures at the time, but it has been the law ever since. If you want to read the case and the court's reasoning you can find it at. Far from going down any drain, the countries where it is easiest to form corporations with the least regulated economies are the world's wealthiest. Just compare the China of 1970 to the China of 2007. Corporations were originally established by Royal Charter, just like towns guilds for which the crown received payment recurrent payments. Then Parliament took over the issuance of charters (after the unpleasantness with King Charles I). Parliament you may recall was in the hands of the merchant class. Some geniuses in Holland England in order to finance the private exploration of the New (and ancient Asian) World came up with the idea of the the Limited Liability Corporation. It was a major advance in capitalism because it allowed merchant adventurers to invest in exploration and exploitation of new lands and businesses without risking everything they owned. This allowed the massive accumulations of capital necessary to build railroads, shipping lines factories that in turn allowed people to advance from subsistence economies to modern specialized ones. Anyway, the process was well along Limited Liability corporations were the rule when the US states took over the functions of Parliament state legislatures began issuing charters. Sometime in the mid-early 19th century lawyers, bankers legislatures got the idea that instead of having to pass a bill creating every corporation, the legislature could simply pass a corporation act, that would allow people to set up their own corporations by just meeting the requirements of the act — which usually involves recording a charter with the State government paying an annual fee.

From the beginning, the directors of corporations were hired by the share owners for the benefit of the shareowners. Their SOLE duty is to the interests of the shareholders, and always have been ever since the King Parliament gave up their power to appoint them. It only makes sense, as they are hired and paid with the shareholder’s money no one else’s.

The in 1886 the US Supreme Court in the case of Santa Clara County v. Southern Pacific Railroad Company, ruled that the 14th Amendment to the US Constitution which was intended to give equal rights to freed slaves, also gave them to Corporations! It was something of a shock to most state legislatures at the time, but it has been the law ever since. If you want to read the case and the court’s reasoning you can find it at.

Far from going down any drain, the countries where it is easiest to form corporations with the least regulated economies are the world’s wealthiest. Just compare the China of 1970 to the China of 2007.

]]> By: Lizbeth Appleyard http://www.drainclearance.org/when-did-courts-give-corporations-the-status-of-a-person-and-more/comment-page-1/#comment-114 Lizbeth Appleyard Mon, 04 Aug 2008 18:27:55 +0000 http://www.drainclearance.org/when-did-courts-give-corporations-the-status-of-a-person-and-more/#comment-114 This is the work of legislation, not the courts. Corporations are legally defined entities. This is the work of legislation, not the courts. Corporations are legally defined entities.

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