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Unformatted text preview: The definition of the Corporation How does the new organizational form compare to other organizations? Business corporation used to be not as important there was a lack of public control It is now the dominant institution of our time – is the corporation – creates great wealth but causes unhidden harms It's like a family unit working together for a common end. Is extraordinarily powerful and tries to devour as much profit as possible, at anyones expense The Corporation is a group of individuals working together to earn large growing returns for the people who own the business. It grew out of the industrial age Originally people were chartered to do something for the State – it was called a “Charter of State” - like building a bridge – it was a gift to the people in order to provide a public good – it didn't take over other businesses, there were stipulations over the amount of capitalism was allowed/tolerated. For more power – constraints of the corporation were lifted - “corporation is a person” - was what it became legally bound as – and you can't deny it as a person the right to life and liberty – judges applied...
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- Spring '09