I was watching the new HBO show Newsroom when I heard one of the characters say “what is the difference between a person and a corporation?” This got me thinking. What is the difference? In the eyes of the law there really isn’t one. The law treats a corporation as a person. They are entitled to all the same protection the law gives to a real flesh and bones person.
One of the best ways to hold a corporation accountable for their actions is to take away their profits for every day a real flesh and bones person would be in jail
One of the major differences between a real flesh and bones person and a corporation is how they are held accountable. With a real person, if they break the law, they go to jail or prison. You can’t put a corporation in jail or prison. So how do we hold them accountable for them doing wrong? I mean we hold a real person accountable for when they break the law. Isn’t it only fair that we do the same to a corporation?
Well, the only way to hold them accountable for their actions is with money. Deciding the amount is what some people have a hard time with. With a large corporation in order for them to be punished, the amount has to be in the millions. I have heard some people think it is not right for injured person to get such a large sum of money for their injury. But, that is not the point. The point is holding the corporation accountable for injuring another person.
One of the best ways to hold a corporation accountable for their actions is to take away their profits for every day a real flesh and bones person would be in jail. For example, if a real person would have been in jail for 30 days, then they should lose their profits for 30 days. Some corporations make a 100 million or more dollars a day! By my reasoning, for them to be accountable in a situation that would see a real person go to jail for 30 days, they would have to pay the injured person 300 million dollars.
I think that is what is fair. It is just making sure that we deal with corporate behavior in the same way we deal with a real person’s behavior. So the next time you hear of a big settlement against a large corporation, think about it in the way I just explained. That money is holding them accountable for their action. They wanted to be treated like real person so let us treat them as one and make them play by the same rules we play by.
The DiCello Law Firm has taken leadership roles in several cases where large corporations have been held accountable for their actions. Some of those cases were against the makers of propecia, mentor obtape, imprelis herbicide, depuy hip, and Stryker Rejuvenate hips to name just a few.
Here is a list of recent fines large corporations had to pay and the amount of days it took for those corporations to make that same amount.
If you want to talk to me about this, give me a call and we can talk about it.
By: Mark Abramowitz