 Frank R. Lopez dalam artikelnya berjudul Corporation Social Responsibility In A Global Economy After September 11: Profit, Freedom and Human Right,,, Mercer Law Review, Vol. 55, 2004, hal. 743 menyatakan : “ the first corporation were created to serve the public. Corporation were created as an extention of either the church or the state. ‘Ecclesiatical’ corporation, for example, were created as a device for the church to hold property. Most early corporation, however, were created to serve the sovereignity of kings and queens.”

 Indra Surya dalam Disertasinya yang berjudul Transaksi Benturan Kepentingan di Pasar Modal, FHUI, menyatakan bahwa International Corporation pertama di dunia seperti British East India Company (BEIC), Dutch East Indies Company (DEIC), Hudson Bay Company (HBC), dan Veereenigde Oost Indische Compagnie (VOC), menunjukan bahwa kepentingan korporasi dan kerajaan tidak terpisah.

 pada tahun 1930an, oleh Lee Drutman diceritakan bahwa, “A Corporation with thousand of employees and millions of costumers, a corporation was receiving public subsidies and encroaching on communities, a more extensive reporting system that measured the impact of the corporation on peoples lives have made sense. This never developed, however, and the profit-generating mentality remained the dominant driving force behind corporation.”

 Adolph A. Berle, Corporate Powers as Powers in Trust, 44 Harvard Law Review. 1049, 1931,  Michigan Supreme Court Decision, cases Dodge v Ford Motor Co. 170 N.W  Peraih Nobel Milton Friedman, (Social Responsibilities of Business)

 Benedict Sheehy dalam Scrooge-The Reluctant Shareholder: Theoretical Problems In the Shareholder-Stakeholder Debate, University of Miami Law Review, Vol. 14, 2005, menyatakan ada 4 (empat) alasan, yaitu: (1) hold the residual claims; (2) have the greatest risk; (3) have the greatest incentive to maximize firm value; and (4) have the least protection.

 Merrick Dodd, For Whom Are Corporate Managers Trustees?, Harvard Law Review, Vol. 45, 1932, (Social Services)  Supreme Court of British Columbia, in cases Teck Corporation Ltd. V. Millar (1973) 33 DLR (3d) 288. Justice Berger opinion, (Interest Employee and Community)

 Director Primacy Doctrine  Team Production Doctrine  Margaret M. Blair dan Lynn A. Stout

IndonesiaAmerika Pendiri, Pemegang Saham, Direksi, Komisaris Member, Organizer, Shareholder, Director Akta Pendirian, Anggaran DasarCertificate of Organization, Operating Agreement Menteri Hukum dan HAMSecretary of State Surat Keputusan Pengesahan Badan Hukum Certificate of Existance Tidak diwajibkan PengumumanTidak diwajibkan pengumuman