Indeed, Corporations are People or Persons

The Democrats are so desperate that they are nitpicking everything they feel wrong about the Republican frontrunner, Mitt Romney.  Now, they are jumping on Romney about his statement that “corporations are people.”  Look up any business law book or any compendium about corporations and you will find the following:

Despite not being natural persons, corporations are recognized by the law to have rights and responsibilities like natural persons (“people”). Corporations can exercise human rights against real individuals and the state, and they can themselves be responsible for human rights violations. Corporations are conceptually immortal but they can “die” when they are “dissolved” either by statutory operation, order of court, or voluntary action on the part of shareholders. Insolvency may result in a form of corporate ‘death’, when creditors force the liquidation and dissolution of the corporation under court order, but it most often results in a restructuring of corporate holdings. Corporations can even be convicted of criminal offenses, such as fraud and manslaughter.

Yes, indeed, corporations are considered persons or people and are legally treated as such. Romney used it as a metaphor. His statement is based on logically sound law.

On the other hand, the Democrats have said that they will “kill” Romney.  Speak of disgusting.  Folks, prepare for the race to get even filthier than dirty.  That will be the Obama legacy.

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