Re: Mozilla For Profit?

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From: "Stephen J. Turnbull" <[email protected]>
Subject: Re: Mozilla For Profit?
Date: Fri, 05 Aug 2005 11:57:25 +0900

> >>>>> "J" == J David Boyd <[email protected]> writes:
>
>     J> You can definitely create a corp without stockholders.
>
> You can't create a for-profit corporation without stockholders,
> because somebody has to own the right to the stream of distributed
> dividends, and somebody has to own the right to the proceeds should
> the corporation be dissolved with positive net worth.  That's what
> "stockholder" means, that you have a right to a specified share of the
> corporation's net assets.  (Under certain conditions; eg, you can't
> simply say "I'm taking my net assets and going home," unless the stock
> is publically traded, and even then you get the market value rather
> than the accounting value.)
>

Thanks for the info.  I wasn't clear in my thinking or what I wrote.  I meant,
on retrospect, 'other' stockholders.  I wasn't associating stockholders with
the people that incorporate the company, which was incorrect.  Thanks for
pointing out the flaw in my thinking!
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