"Are US companies legally obligated to maximize profits for shareholders?"

Re:"Are US companies legally obligated to maximize profits f... by user3939382 on Friday February 17, 2023 @11:13AM (#34836445)

My inexpert assessment is that this shift was precipitated by the creation of these tycoons in the industrial revolution. Prior to that, big corporations like the India Tea Company were formally/directly associated with the State.

Getting into my more controversial political opinions, I believe now these corporations and their executives also control the government almost exclusively but they at least pretend they’re separate from the State.

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Re:"Are US companies legally obligated to maximize profits f... by Avicebron on Friday February 17, 2023 @11:22AM (#34836611)

I assume you mean the East India Company? And from what I understand it was somewhat different than directly controlled by the state. Getting the "Queen's permission" was more of a business license, and they actively formed a lobby within in the government to lobby for a monopoly which was roughly 100 years after they were formed as a private venture.

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Re:"Are US companies legally obligated to maximize profits f... by user3939382 on Friday February 17, 2023 @12:00PM (#34837174)

> East India Company?

Yep

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