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3.1 A short history of the corporation  (Page 5/7)

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Citation for table

This table provides a close summary of Fisse, B. (1985). "Sanctions Against Corporations: The Limitations of Fines and the Enterprise of Creating Alternatives" in Corrigible Corporations and Unruly Law , editors Brent Fisse and Peter A. French. San Antonio, TX: Trinity University Press, 137-157. Summary in tabular form of the taxonomy developed by Fisse to classify and compare forms of corporate punishment.

    Requirements of sarbanes-oxley (summarized by dyrud: 37)

  • Provide increased protection for whistle-blowers
  • Adhere to an established code of ethics or explain reasons for non-compliance
  • Engage in "full, fair, timely and understandable disclosure"
  • Maintain"honest and ethical" behavior.
  • Report ethics violations promptly
  • Comply with "applicable governmental laws, rules, and regulations"
  • Dyurd cites: ELT, Ethics and Code of Conduct , n.d.; http://www.elt-inc.com/solution/ethics _and_code_of_conduct_training_obligations.html

    Amended federal sentencing guidelines (taken from dyrud: 37)

  1. Establishing standards and procedures to prevent and detect criminal conduct
  2. Promoting responsibility at all levels of the program, together with adequate program resources and authority for its managers
  3. Exercising due diligence in hiring and assigning personnel to positions with substantial authority
  4. Communicating standards and procedures, including a specific requirement for training at all levels
  5. Monitoring, auditing, and non-internal guidance/reporting systems
  6. Promiting and enforcing of compliance and ethical conduct
  7. Taking reasonable steps to respond appropriately and prevent further misconduct in detecting a violation

Legal trail toward corporate moral personhood: a table summary

From Ritz, Dean. (2007) "Can Corporate Personhood Be Socially Responsible?" in eds. May, S., Cheney, G., and Roper, J., Oxford, UK: Oxford University Press: 194-195.
Date Decision Legal Right Affirmed
1889 Minneapolis and St. L. R. Co. v. Beckwith Right for judicial review on state legislation
1893 Noble v. Union River Logging R. Col, Right for judicial review for rights infringement by federal legislation
1906 Hale v. Henkel Protection "against unreasonable searches and seizures (4th)
1908 Armour Packing C. v. United States Right to trial by jury (6th)
1922 Pennsylvania Coal Co. V. Mahon Right to compensation for government takings
1962 Fong Foo v. United States Right to freedom from double jeopardy (5th)
1970 Ross v. Bernhard Right to trial by jury in civil case (7th)
1976 Virginia Pharmacy Board v. Virginia Consumer Council) Right to free speech for purely commercial speech (1st)
1978 First National Bank of Boston v. Bellotti Right to corporate political speech (1st)
1986 Pacific Gas and Electric Company v. Public Utility Commn of California Right against coerced speech (1st)

What you will do ...

Exercise one: other people's money

    Watch the shareholder's meeting in the movie, " other people's money." then answer the questions below. think generally about what the manager of a corporation should do with the money its stakeholders have invested in it.

  • What is Larry the Liquidator's basic argument? What is Andrew Jorgensen's basic argument?
  • What is Larry the Liquidator's conception of the nature and value of the corporation? What is Andrew Jorgensen's conception of the nature and value of the corporation?
  • What is the social responsibility of a corporation according to Larry the Liquidator? What is it according to Andrew Jorgensen?
  • Write a paragraph on which argument you find most persuasive, that of Larry or that of Andrew. Explain why you find it persuasive.

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Source:  OpenStax, The environments of the organization. OpenStax CNX. Feb 22, 2016 Download for free at http://legacy.cnx.org/content/col11447/1.9
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