:10:01
to protect newly
freed slaves.
:10:04
So for instance
between 1890 and 1910
:10:08
there were 307 cases brought
before the court
:10:13
under the 14th amendment.
:10:14
288 of these brought
by corporations
:10:18
19 by African Americans.
:10:26
600000 people were killed
to get rights for people
:10:32
and then with strokes of
the pen over the next 30years
:10:35
judges applied those rights
to capital and property
:10:40
while stripping them
from people.
:10:57
Everybody makes a mistake
once in a while
:10:59
but I just cant be
personally responsible.
:11:02
That's one of the weaknesses
of a partnership
:11:05
isn't it Sid?
:11:06
Well maybe youd better
incorporate the store.
:11:10
Incorporate?!
:11:11
Yes
:11:12
Incorporating would give you
the big advantage of
:11:15
what you want right now
limited liability.
:11:19
You start with a
group of people
:11:21
who wanna invest their
money in accompany.
:11:23
Then these people apply for
a charter as a corporation.
:11:28
This government issues a
charter to that corporation.
:11:32
Now that corporation operates
legally as an individual person
:11:37
it is not a group of people
:11:40
it is under the law
a legal person.
:11:43
Imperial Steel Incorporated
has many of the legal rights
:11:47
of a person.
:11:48
It can buy and
sell property...
:11:51
It can borrow money.
:11:53
It can sue in court
and be sued.
:11:56
It can carry
on a business.
:11:59
Imperial Steel