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Characteristics of the corporate entity are perpetual

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Some key characteristics of the corporate entity are perpetual existence (meaning a corporation can outlive its founder[s]) & limited liability (meaning that the corporation is liable for its own debts--the owners [shareholders] are not personally liable for same.) Critics say the perpetual existence is OK, but the lack of personal liability on the part of corporate officers and managers is a recipe for corruption. Should the higher-ups in a corporation be liable for the misdeeds of a corporation?

Reference no: EM131857260

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