Earlier quoted context omitted.
The issue is limited liability. I don't think companies should shield stockholder, shareholders, or owners from any liability
While this sounds good in theory, I suspect the actual result would be much worse for justice in most cases. With the corporation acting as its own legal entity, if you are wronged, you sue and obtain justice from the corporation. If instead you needed to sue each and every shareholder to obtain their share of the liabilities, you'd likely spend many more years in court as each individual owner argues why they aren't…
The instrument of Limited Liability exists to encourage business formation and risk taking for small businesses to kick off.
The way large corporations and rich individuals would structure their projects into a number of corporation-owned LLCs is an obvious gap being addressed in law systems throughout the world.