Corporate abuse refers to incidents that involve unethical behavior on behalf of a corporation; a case of corporate abuse may be a scandal, fraud, or negligence toward the corporation's employees and/or the local community. The issue of corporate abuse erupted in the US after energy company Enron filed for bankruptcy in December 2001 after a major accounting scandal. A corporation is a legal entity (distinct from a natural person) that often has similar rights in law to those of a Civil law systems may refer to corporations as moral persons; they may also go by the name AS (anonymous society) or something similar, depending on language (see below). ... A corporate scandal is a scandal involving unethical behavior on the part of a company. ... In law, negligence is a type of tort or delict that can be either criminal or civil in nature. ... Employment is a contract between two parties, one being the employer and the other being the employee. ... ... Enron Corporation Enron Corporation is an energy trading and communications company based in Houston, Texas that employed around 21,000 people in mid-2001 (before bankruptcy). ...
Sources
This category has been inspired by an article written by the BBC: BBC NEWS | Business | Wall Street scandals at a glance Corporate logo of the British Broadcasting Corporation The British Broadcasting Corporation (BBC) is the national broadcaster of the United Kingdom. ...
A corporate scandal is a scandal involving unethical behavior on the part of a company. ... Securities and Exchange Commission Chairman Harvey L. Pitt, New York Attorney General Eliot Spitzer, North American Securities Administrators Association President Christine Bruenn, NASD Chairman and CEO Robert Glauber, New York Stock Exchange Chairman Dick Grasso, and state securities regulators announced an historic settlement with the nations top investment firms... This article is being considered for deletion in accordance with Wikipedias deletion policy. ...
External links
Forbes.com: The Corporate Scandal Sheet - 08.26.02
But a recognition that corporations are able to compensate their victims and are more readily identified as a source of harm than the individuals within them has gradually led to the general consideration that corporations can be convicted for acts that violate the law.
American courts first placed corporations into a criminal law context in a 1909 New York Central Railroad case (212 U.S. Standards for criminal sanctions for both corporations and their top executives should be strengthened, especially for occupational, consumer and environmental crimes resulting in death or serious injury.
Richard Breeden, a corporate monitor and former SEC commissioner was appointed by the district court.
Corporate law thus casts ethical and social concerns as irrelevant, or as stumbling blocks to the corporation's fundamental mandate.
Even when corporations are defeated in particular battles, they go on the next day, in other ways and other places, to pursue their own private interests at the expense of the public.
Corporationsabuse the public interest because the law tells them their only legal duty is to maximize profits for shareholders.
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