Well the States of Delaware and Nevada would beg to differ! THey are big at low-cost corporations, and usually take a firm aggressive stance pro-corporation in any lawsuits. Usually -- because very recently the Delaware Courts made what may be a landmark ruling for a shareholder against the Corporation.
Still .. my bigger point, and one I'm stlll mulling around is that the very fundamental structure of the modern US corporation is busted. Irredeemably.. That is the ways that ownership are structured, and the ways that government oversight is applied -- regulation and original charter, recourse in courts of equity and liability in criminal courts -- all bulloxed up. Major.
Presently creates a bad ownership. Preverted in every direction. Doesn't lay our responsibility and anywhere close to properly specifiy who is due what, etc.
I'm suggesting that the "corporation" as a vehicle for doing business in close association, of easily trading shares of commonly owned property, of limiting liability -- that in entireity from charter, to what has grown up in case law and legislation, in regulation about both corporations, shareholders, officers and employees has to be completely redone.
If the subject is even brought up in Congress you'll see the Dow sink below 3,000 and the commencement of the next Great Depression (which won't be too good for the job market). An awful lot of the perceived value of American corporations stems from the legal advantages they possess.