For politically-minded entrepreneurs, it may be good news that all business types will soon be able to advocate politicians and express political opinions. The Supreme Court recently lifted a long existing ban on corporate free speech, reports the Lompoc Record.Prior to the Supreme Court ruling, many states had already lifted bans on corporate and union sponsorship of political advertising. In general, the source says the reduced restrictions have not favored any one party over another.
Restrictions still exist on corporations’ abilities to accept contributions from political candidates. Still, the Court decided that by the First Amendment corporate campaigns have the right to endorse politicians. The decision was made in light of a case against a company that sponsored the making of “Hillary: The Movie.”
Some skeptics, like President Barack Obama, worry that major corporations will start political campaigns that will “swamp the voice of the people.” Others believe labor unions and philanthropic-minded businesses will articulate valid political theories that voters should consider.
The law change may inspire some entrepreneurs undergoing business formation to do their political homework on policies that will have an impact on their companies and plan campaigns accordingly.