Dicussion Essay Example | Topics and Well Written Essays - 500 words

Dicussion - Essay Example Corporations are viewed as persons because they have rights and freedoms almost similar to those given to a human being. For example, under the United Sates constitution corporations cannot be deprived the right to liberty, life or property without due process. Additionally, under the Fourteenth Amendment no state shall not deny any person the equal protection of the laws in that even the corporations should not be discriminated. Corporations have the right to own, acquire and dispose of property, as well as, sue and be sued. However, although corporations are given these rights they are denied the right to vote as a person and to acquire licensure because the corporations do not meet any educational requirements. A corporation is created by filing the article of association with the secretary of state and when the articles are accepted or approved a corporate charter is given to a corporation (Showalter, 2014). Incorporation of the organization means gives the corporation five principal advantages. They include limited liability, perpetual existence, free transfer of ownership interest, ability to raise capital and taxation separate from individual income taxes. Corporations have both implied and express powers that are written down clearly under the statute or charter. The powers of the corporation have to be consistent with the charter and when the corporation goes against those powers they are held to be ultra vires meaning that they acted beyond their limit. Hospitals are viewed as Not-for-profit organization, which is mostly owned by shareholders. The shareholders are entitled and are expected to receive dividends from the corporation’s earnings, and they are also allowed to share assets in case of the dissolution of the corporation. Although Not-for- Profit corporation are allowed most of the privileges of the corporation in case they want to use the corporation for other gains they have to include such acts in