Nike's Corporate Personhood

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1. Corporate personhood refers to a legal action in United States, which states that a corporation is considered as a separate legal entity in comparison to their owners, managers or employees having privilege of some legal rights, duties and responsibilities as enjoyed by the persons. The corporations have a right to sign a contract with other parties and also have a right to sue or to be sued by the court as in case of natural persons. A debate is still going on in U.S context regarding to the extent of legal rights given associated with the corporations as compared to natural persons. In case of Kasky v. Nike held at the U.S. Supreme Court, involving Nike Corporation appealed in California Supreme Court. ("Kasky v. Nike — Do Corporations …show more content…

The corporations can be regarded as persons but only for some purposes such as the corporations have a privilege of First amendment right to free speech along with a fourth amendment and fifth amendment protection against search and seizures and right to protection against double jeopardy. In addition, privileges are provided to corporations for protection against excessive fines. Theory of justice- Libertarianism covered this week such as libertarianism, which refers to a political philosophy affirming the right of a person to liberty, to acquire, keeping and exchanging holdings along with the protection of individual rights. This can be referred as moral or a derivative principle. It will focus on libertarianism as a doctrine for natural rights in context of Locke (1690) and Nozick (1974). (Vallentyne & Vossen, 2014) Each individual has an equal right to basic liberties such as right to vote, freedom of thought, freedom of speech, and right to hold …show more content…

The ethical and corporate governance theories related to agency theory, stakeholder theory, transaction and political theory are associated with the corporations. The corporations while operating in the market should follow theory on business ethics where the rights and wrongs are addressed by the courts along with the concern of the business corporations towards the society. 3. The corporations should place more emphasis on the issues related to corporate social responsibility where issues need to be addressed related to fairness, justice and equality. The following provisions should be made for the members of the corporations for ensuring prevalence of justice, equality and fairness. • The distribution of wealth among the corporate persons should be done on equitable and fair

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