“Incorporation, n. The act of uniting several persons into one fiction called a corporation, in order that they may be no longer responsible for their actions. A, B and C are a corporation. A robs, B steals, and C (it is necessary that there be one gentleman in the concern) cheats. It is a plundering, thieving, swindling corporation. But A, B and C, who have jointly determined and severally executed every crime of the corporation, are blameless, It is wrong to mention them by name when censuring their acts as a corporation, but right when praising. Incorporation is somewhat like the ring of Gyges: it bestows the blessing of invisibility—comfortable to knaves. The scoundrel who invented incorporation is dead—he has disincorporated.”
Excerpted from: Bierce, Ambrose. David E. Schultz and S.J. Joshi, eds. The Unabridged Devil’s Dictionary. Athens: The University of Georgia Press, 2000.