That is why I am in favour of the financial death penalty. Fines should be 10x the damage done. If a company cannot pay it, they are required to become a non profit.
Fines should be 10x the damage done
What are your monetary damages for this?
I think a better solution is one year of global revenue (not profit) as it’s really hard to determine damages in cases like this. That way, it’s legitimately a death sentence regardless of the size or scale of the company. If you set the fines at an amount not linked to profit or revenue, all you’re doing is making it extremely hard for the little guy but less hard for the big corporations - the ones you really want to go after.
That is why I am in favour of the financial death penalty. Fines should be 10x the damage done. If a company cannot pay it, they are required to become a non profit.
What are your monetary damages for this?
I think a better solution is one year of global revenue (not profit) as it’s really hard to determine damages in cases like this. That way, it’s legitimately a death sentence regardless of the size or scale of the company. If you set the fines at an amount not linked to profit or revenue, all you’re doing is making it extremely hard for the little guy but less hard for the big corporations - the ones you really want to go after.
I like it, much more practical.