That's correct, but I was referring to the benefits of sovereignty. They do get the advantages of whatever laws they might operate under.
In that regard, they're no different than churches or charities that are tax-exempt.
DG, a sceptical person such as yourself should be made aware of this:
http://www.worldforum.org/Commission-On-Globalisation/homelinks/CommissionFinalReport.htm
STRATEGIC PURPOSE
The purpose of the Commission on Globalisation was to undertake an inclusive and comprehensive multi-stakeholder inquiry into the nature and character of globalization; and to develop integrated thought and action leading to specific recommendations for governance and policy-making at a global level that promoted greater social equity, environmental stability, enhanced security, and sustainable economic growth.
The Commission served as an incubator, catalyst and integrator for innovative leaders and institutions working to bring greater equity, democracy and accountability to globalization and global governance.