Friday, January 14, 2011

Incorporation, n.

A bond issued by the Dutch East India Company,...Image via Wikipedia"The act of uniting several persons into one fiction called a corporation, in order that they may be no longer responsible for their actions.  A, B and C are a corporation. A robs, B steals and C (it is necessary that there is one gentleman in the concern) cheats.  It is a plundering, thieving, swindling corporation. But A, B and C, who have jointly determined and severally executed every crime of the corporation, are blameless.  It is wrong to mention them by name when censuring their acts as a corporation, but right when praising. The scoundrel who invented corporation is dead - he has disincorporated" - Ambrose Bierce, The Devil's Dictionary.
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Pic - a bond issued by the Dutch East India Company.

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