The first companies were comprised of people working in company with one another, corporations were originally defined as people associating for a common purpose and acting corporately. In our day we must come to grips with certain oxymorons and especially any hop-skippety-jump logic behind certain concepts, like that of a “shell corporation.” Of course the morphing definitions don’t end there. Our business landscape is replete with so-called corporations that are comprised of what investors view as “low level functionaries.” Their senior managers are also controlled by outside string pullers.
A shell corporation is defined as one without active business operations or significant assets. And our courts have displayed such a lack of intellectual rigor in dealing with such fraudulent corporate entities they have thereby corroded the democracy underpinnings of our constitutional republic. Shell corporations are often used by large well-known public companies, shady business dealers, and private individuals alike. Faux corporations act as tax avoidance vehicles for otherwise legitimate businesses, that are intent on privatizing gains while socializing losses.