Subject: Re: Mozilla For Profit?
From: Don Marti <dmarti@zgp.org>
Date: Wed, 3 Aug 2005 10:22:10 -0700

begin  Randy Kramer quotation of Wed, Aug 03, 2005 at 12:31:33PM -0400:

>    * Can a corporation be created with no stockholders?  (Is that what a 
> subchapter S (or some other letter) corporation is?)

All corporations have some kind of stockholders.

> Or, more to the point: 
> could I create my own corporation with no stockholders and achieve the 
> benefit of freedom from (most) personal liability that is achieved by a 
> traditional corporation?

Any halfway-decent lawyer would blow away
any corporation that was just there to shield an
individual from liability.  

http://www.collierlaw.com/articles/piercing.htm

>    * It's not 100% clear from the article--has the Mozilla Foundation lost any 
> tax-exempt status they might have had as a non-profit?

No, a non-profit can own stock without losing its
non-profit status.

A good example of a foundation owning the majority
of a corporation is The Robert Bosch Foundation:
http://www.bosch.us/content/language1/html/2454.htm

The Hershey foundations and companies are a little
more complicated:
http://www.hersheytrust.com/cornerstones/orgchart.shtml

-- 
Don Marti
http://zgp.org/~dmarti/
dmarti@zgp.org