Corporate ownership control and responsibilities

Corporate ownership control and responsibilities

Limited Lability companies were set up with the implied bargain that they get the ‘limited Liability” in exchange for the benefits they bring to the society And that worked for a long time Big companies (the vast majority of them) used to operate as “responsible citizens” – looking after Their employees Their neighbours Their society As well as their stockholders Sometime in the 70’s this behaviour changed and shareholders became the only beneficiary – Breaking the implied contract We need to remake that implied contract as an actual contract – the company getting it’s “limited liability” in exchange for the old deal of looking after the society


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