A CORPORATION IS PRODUCED THROUGH LIMITED LIABILITY REQUIRING A MONOPOLY INSURER

A CORPORATION IS PRODUCED THROUGH LIMITED LIABILITY REQUIRING A MONOPOLY INSURER OF LAST RESORT: STATE.

A corporation CAN only occur in a state, because a corporation obtains limited liability from the state.

One can form a partnership, and one can issue shares to distribute ownership in a partnership, and one can create all sorts of different shareholder agreements, but a corporation of any of the three popular types (llc, S, C) differ in the method of taxation, the means of management, and the extent of limited liability.

in a private law society lacking a constitution, and lacking a state as an insurer of last resort, there is no such possibilty of limited liabiilty. The solutoin is to obtain insurers, and pay insurers fees instead of taxes in order to limit your liabilities.

This is another example of how libertarian thinkers take advantage of the ignorance of individuals as to the nature of the state: it is an insurer of last resort.