Inside the Corporation

“There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.”

—Henry Ford

Acorporation is an association of individuals—share holders, embodying their private financial interests, yet possessing distinct powers and liabilities independent of its members. It can be a “legal person”1 with the right to litigate, hold assets, hire agents, sign contracts, etc. Over the years, corporations have needed to adapt to changing technology. To keep up with the Information Age, their assets have shifted toward intellectual property, company ...

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