I read once about a corporate death penalty that I think should really be made into law: where a corporate entity commits something so heinous that a fine or what have you is simply not enough. I cannot find the link but the process would go about such as:
- The entire entity would be taken on ownership by the government agency at play. No existing stakeholders would be paid anything for this and operations would continue, assuming the operation is worth salvaging of course, with the corrections made needed.
- The entity would then be either sold in-whole or carved up into pieces to other large businesses. Shareholders, stakeholders, or investors are not made whole: instead, the revenue from these sales is used to repay or remediate the damage caused by the company.
- Top level leadership is, if it's felt is required, charged for neglecting their duties as leaders and fined, jailed, or otherwise punished.
- In the end the original entity is dissolved entirely, any remaining assets are sold in a process similar to the above, and the name is added to a "dead corporation" list and cannot be used at any time in the future.
- The entire entity would be taken on ownership by the government agency at play. No existing stakeholders would be paid anything for this and operations would continue, assuming the operation is worth salvaging of course, with the corrections made needed.
- The entity would then be either sold in-whole or carved up into pieces to other large businesses. Shareholders, stakeholders, or investors are not made whole: instead, the revenue from these sales is used to repay or remediate the damage caused by the company.
- Top level leadership is, if it's felt is required, charged for neglecting their duties as leaders and fined, jailed, or otherwise punished.
- In the end the original entity is dissolved entirely, any remaining assets are sold in a process similar to the above, and the name is added to a "dead corporation" list and cannot be used at any time in the future.