Corporate Personhood

Mx. Corporation (Excerpt)

(Source) THE FOLLOWING IS AN ABRIDGED VERSION OF GARRY BLUM’S NOTE SUBMISSION TO THE MAIN JOURNAL. HE HOPES THAT THE READER FINDS THIS HISTORY OF CORPORATE PERSONHOOD INTERESTING AND COMPELLING:   INTRODUCTION Over the last 200 years, corporations have fought to establish themselves as “persons” under the law; that is, they have argued that corporate entities are entitled to all or nearly all of the same constitutional rights and procedures as any natural person residing in the United States.[i] At the same time, scholars seeking to restrain corporate power have lobbied similar arguments –––that corporations are a special kind of “legal person” and thus more vulnerable to regulation than natural persons.[ii] These arguments have fostered significant debate about “corporate personhood” and the nature of corporations. This article explores the leading analytical frameworks underlying this idea of “corporate personhood”. At a high level, corporate personhood refers to the idea that corporations enjoy a status under the law, more or less, as persons. For all kinds of organizations, this so-called fiction has enabled highly productive forms of organization, allowing for strategic accumulation and implementation of assets. Beyond its advantages, however, this idea has posed challenging social, philosophical, and legal questions.” *** THREE [read more]