In pedantic old England, the foundation documents (colloquially "Mem &
Arts") of a company define its aims and objectives, which might well be
profit for the shareholders, but need not be. Indeed, there are plenty of
examples of charities which are formed as a company, but are not
profit-making for shareholders (Oxfam is one such) - the main reason being
that a company has legal personality, and can enter into contracts in its
own name, whereas a simple charity cannot easily do so without exposing its
trustees to personal liability.
http://preview.tinyurl.com/ya9n9qe is Wikipedia's take if you are
interested.
Piers (a personally-liable trustee of an unincorporated charity!)
-----Original Message-----
From: Dawid Loubser [mailto:dawidl@xxxxxxxxxxx]
Sent: 03 December 2009 08:09
To: Olympus Camera Discussion
Subject: Re: [OM] OT: Google Wave
--snip
By law, the primary purpose of a publically-traded corporation is to make
profit for its shareholders.
--snip
--
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