![]() What’s interesting is that while the article jettisons one legal reality-the corporation-as a mere legal fiction, it rests its entire argument on another legal reality-the law of agency-as the foundation for the conclusions. “That responsibility is to conduct the business in accordance with their desires, which generally will be to make as much money as possible while conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom.“ The executive “has direct responsibility to his employers.” i.e. An organization is a mere legal fictionīut in the magical world conjured up in this article, an organization is a mere “legal fiction”, which the article simply ignores in order to prove the pre-determined conclusion. The executive is an employee of the corporation. ![]() If anyone familiar with even the rudiments of the law were to be asked whether a corporate executive is an employee of the shareholders, the answer would be: clearly not.
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