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Old January 23 2012, 06:23 PM   #21
CoveTom
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Re: Ferengi Corporations

The Overlord wrote: View Post
Actually a corporation is run by a board of directors and is owned by shareholders, if there are no shareholders it isn't a corporation. What evidence is there that Quark's bar issues shares or is indeed a corporation at all? It is run far more like a sole proprietorship. There is no evidence that "Quark's bar" is a separate legal entity, for example.
A corporation has to have a board of directors and shareholders. However, one person can hold all the stock in a corporation and be the entire board of directors, as well as all of the corporate officer positions. This is extremely common in small business because it provides the personal liability protection that a sole proprietorship does not. So, yes, a corporation can be a one-person operation.

And it makes total sense that someone as shrewd as Quark would set up his business dealings in such a way that if the latest person he dealt with decided to sue him, they could go after his business assets, but not his personal ones.
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