this post was submitted on 15 Feb 2024
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My problem is there’s literally ways you can organize a business that makes literally impossible to legally do these things. When businesses say these things, but don’t acknowledge the reality that they could always recharter the business in such a manner where you don’t just have to trust them to behave with no recourse if they don’t, I always have to add “but we still will continue to reserve the right to sell you out but pinky promise we won’t ever do it”
“ …ways you can organize a business that makes literally impossible to legally do these things. ”
Not disputing this is true, but could you provide some examples?
They're talking about making it a nonprofit, I'm sure. People working for nonprofits can have good salaries so its not like they're not good to work for, and any profit can be reinvested into the company or donated to other nonprofits. But you can't sell the company to a for-profit (I don't think), and the ownsers can't take all of the profit for themselves.