Most corporations are used as vehicles in which business can be conducted in a way which limits the liability of the members of the corporation. This is one of the most important aspects of the corporate entity. The members of the corporation are therefore shielded from the possible failure of the business. If the corporation fails, although employees will lose their jobs, and investors will lose their investments, the individuals running the corporation will not be liable for any debts outstanding which are owed to creditors.
Corporations have rights and responsibilities similar to those of people, despite the fact that a corporation is an entity with no real existence outside the fact that it was organized into an entity by its members. Often circumstances arise in which a corporation, a non-living entity, can nevertheless exercise human rights with respect to real people and the state. Corporations can also, therefore, be responsible for human rights violations. Corporations can even be convicted of fraud, and even manslaughter.