14 November 2011

The Antishareholder Manifesto

I don't agree with Professor Bainbridge's analysis (and his views flatly contradict black letter legal doctrine in all fifty states, even if they get a lot of attention academically) and I think that he makes far to much of the distinction between ownership of corporate property and ownership of a share in a corporation as a basis for the claim that corporations cannot be owned.

But, if you want a sincere and vigorous argument that shareholders have too many rights, should be marginalized in corporate governance, and that "Shareholders do not own the corporation," he is your go to man.

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