The Illinois Business Corporation Act of 1927 requires that all corporations at least have two directors. This act has been in place for over 30 years and it is the most important and effective way to grow a business. It also helps prevent fraud, abuse, and abuse of corporate power.
I’m glad that this law has been passed but I wish it had been passed when I was in business. I had a boss once that I thought was a nice guy, but I never knew what he did for a living (or his job). I was always going to some meeting or event with him and I was just going to pretend I was a normal person.
This is a good point. We can’t really imagine how someone could operate a successful business without being on familiar ground, but I guess it could be explained by some kind of mental trick, or a bit of self-deception. The fact that this is an Illinois law is a bit of a bonus.
I think you might have to be a bit more vague about what you mean by “being on familiar ground.” My boss and I had some conversations about this before my current job in business school. It wasn’t as if we had a long history of working together, but I think some of that probably had to do with the fact that we both knew this was going to be a while. I think this is a good point to make because we don’t want to exclude anyone from discussions about business.
There is actually a company called Illinois, Inc., which has basically a monopoly on electric power in the state. They also own some of the major hospitals and companies in the state. So that means they are able to get away with a lot of power. I am not saying that Illinois has a monopoly on power in the state, just that it is able to make off with it.
This would be a perfect example of a monopoly, because it is a “company.” The other companies in the state are run by elected officials. The Illinois, Inc. is a private corporation that wants to be able to manipulate the state’s political process. So, in order to get things done, they have a bunch of lobbyists and lawyers and public relations people, all working for them. Their tactics are basically the same as the other companies that want a monopoly.
It is a private corporation, not an government. This is an interesting concept because, although it is a monopoly, it is still run by elected officials with a lot of freedom. All this means is that it can get things done, but it also means that the people in this state have a lot of power. If they have to bribe their elected officials to get what they want, it’s probably not going to be a very good deal.
Like most of my blog posts, Illinois Business Corporations Act is a good example of something that is good, but is not very good. It is a private corporation, but it is still run by elected officials. If the elected officials don’t like what they’ve gotten, they can go to the courts and get what they want. The only way they can force changes on the elected officials is if they bribe them to do it.
I can’t say I’ve ever heard of this before, but Illinois Business Corporations Act is an example of what not to do in politics. You would think this would be a non-issue in a state as liberal as Illinois, but when you do the math, you realize it was actually an issue in the past.
Illinois Business Corporations Act is a state law that was passed by the Illinois legislature that gives corporations the right to “opt out” of a public service contract. This effectively makes it impossible for a corporation to be forced to pay for public services.