Twenty years ago, Chemco Corporation developed, manufactured, and marketed Kepone, a chemical pesticide. As a result of
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Twenty years ago, Chemco Corporation developed, manufactured, and marketed Kepone, a chemical pesticide. As a result of manufacturing practices that violated state environmental standards, harmful levels of Kepone were discharged into the soil and groundwater. A state agency sued Chemco for damages, and the corporation was indicted for criminal negligence for the unlawful discharge of toxic substances. The judge imposed a $1 million fine on Chemco. After extensive meetings with the judge and prosecutors, Chemco created the Midwest Environment Foundation, the purpose of which is to alleviate the effects of Kepone waste. Chemco contributed $950,000 to this nonprofit organization, and the judge promptly reduced the fine to $50,000.
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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