Corporation Concept Aborted Before Becoming an Actual Person

It is still questionable when a corporation is first considered a person, but recently a corporate concept that was even given initial investment funding has been aborted due to the economic recession, and lack of interest by the consumer.

George Ferryton just wasn’t ready for his conception of a traveling bingo parlor to become a full person and wanted to end his corporation before fully allowing it to become a person. He said,“I just couldn’t see it fully becoming a person and then going bankrupt and dying on its own. It would just be too heartbreaking to have to go through that, so my partner and I decided to dissolve the corporation before it showed signs of life.” 

Ferryton wishes more people would notice the failure of these ideas before even conceiving them, but at least he feels good in his decision to end his corporation early on. He feels that if he had waited longer, he might not have been able to do it, and would have built the parlor to its full capacity to adopt it out to those that may have been a better fit for its industry. That way it would’ve been able to thrive on its own.

Looking back on his decision, Ferryton has no regrets other than wishing he had sought legal protection in the first place so that he wouldn’t have been taken advantage of.

This was one corporation out of thousands that never got to exist as a person, but Ferryton and his partner plan on trying again soon when they are ready. There is still the question of whether a corporation’s life begins at conception or when it incorporates. Unfortunately, this will be a debate that will continue on for years to come.



Print Friendly, PDF & Email
This article was written by on at . You can follow any responses to this entry through the RSS feed. You can leave a response, or trackback from your own site. Tags:

facebook comments:

Leave a Reply

You must be logged in to post a comment.