Corporate personhood is one of the most misunderstood concepts in American law. From ancient Rome and medieval universities to William Blackstone and the modern Supreme Court, this episode explores why corporations have legal identities, how limited liability works, why companies can be prosecuted for crimes, and whether they can receive the corporate equivalent of the death penalty.
Then, a look at three competing philosophies of corporate personhood—Association Theory, Concession Theory, and Real-Entity Theory. Are corporations simply groups of individuals exercising their freedoms collectively? Artificial creations granted privileges by government? Or institutions with identities and rights of their own? And which constitutional rights should corporations actually possess?
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