Against dominant theoretical claims, Corporate Law is still alive in the United States
The Supreme Court is reconsidering well-established concepts, such as legal personality and limited liability, in light of the First Amendment. In Citizens United v. FEC, it held that corporations have the right to spend freely in political campaigns. Currently, in Masterpiece Cakeshop, Ltd. v. CCRC, it will have to decide whether a corporation is entitled to discriminate based on the religious believes of its shareholders.
Scholars seem to agree that corporate law has been complete for a long time, but these cases suggest that some debates are far from being settled.
What do you think?
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Shared on December 12, 2017
Tags: United States, Supreme Court, legal personality, limited liability, corporate law theory