Debates
13 Jun 11
15 Jun 11
Originally posted by KazetNagorraWho are you? His lover? His dad?
Did he say his name was Gary in a PM to you? He used a different name in PMs to me. Knowing FMF though, that name is probably also not his real name. I'm sure he's highly amused by you calling him (or her, as some would insist) "Gary".
15 Jun 11
Originally posted by AThousandYoungfirst a very simple definition,
When a corporation owns something, who is it that owns the thing?
Corporations invent imaginary people so they can collectively own things. Strange.
The most common form of business organization, and one which is chartered by a state and given many legal rights as an entity separate from its owners. This form of business is characterized by the limited liability of its owners, the issuance of shares of easily transferable stock, and existence as a going concern. The process of becoming a corporation, call incorporation, gives the company separate legal standing from its owners and protects those owners from being personally liable in the event that the company is sued (a condition known as limited liability). Incorporation also provides companies with a more flexible way to manage their ownership structure. In addition, there are different tax implications for corporations, although these can be both advantageous and disadvantageous. In these respects, corporations differ from sole proprietorships and limited partnerships.
Read more: http://www.investorwords.com/1140/corporation.html#ixzz1PLtrvaxb
The only real difference that i can see, is that the liability of the owners (the creditors to the business) is in their legal standing in relation to the business and to those entities which the business itself is liable. When i was doing accounting for my own business as a sole trader, i really had a time grasping this concept, but once you understand that a business is a separate entity, while at the same time being liable to its owners in some manner, it became much easier. Its a strange relationship, the owners own the business, but the business functions as a separate entity, the owners merely become another form of creditor, which the business is liable to, for the distribution of profits.
15 Jun 11
Originally posted by AThousandYoungA corporation is legal fiction, creating a previously non-existent entity for the sole purpose of doing business. It accomplishes two basic purposes.
When a corporation owns something, who is it that owns the thing?
Corporations invent imaginary people so they can collectively own things. Strange.
1. Limits legal liability for the corporation to corporate assets, making the risk of doing business more reasonable to investors.
2. Raising capital, so that a business may grow more quickly from "potentially profitable" to actually profitable.
Collectivist? Hardly. Collectivism implies a great deal more than multiple individual participation. That done as a result of voluntary participation, is very much individualistic. No one enters a corporate structure other than voluntarily. Usually, forming a corporation, or offering an IPO minimally requires considerable legal costs to the participants, all done voluntarily, no force applied by government, other than perhaps subsidies, or tax incentives.
15 Jun 11
Originally posted by VoidSpiritGo to the head of the class.
the government owns all the "persons" so they technically own the corporate properties, but then again the governments are owned by the international banking cartels, so the people who own everything are the people who print the counterfeit global money supply.
16 Jun 11
Originally posted by normbenignBeing a citizen is also voluntary. Nobody's forcing anybody to be part of any particular country.
A corporation is legal fiction, creating a previously non-existent entity for the sole purpose of doing business. It accomplishes two basic purposes.
1. Limits legal liability for the corporation to corporate assets, making the risk of doing business more reasonable to investors.
2. Raising capital, so that a business may grow more quickly from "pote ...[text shortened]... voluntarily, no force applied by government, other than perhaps subsidies, or tax incentives.