The concept of corporate personality is a powerful metaphor. But it is a mistake to turn a metaphor into a doctrine. The legal concept of corporate personality serves the critical economic purpose of establishing that binding contracts can be made in the name of a company. That principle, however, should not be extended into the claim that the rights of the corporation are essentially identical to the rights of individuals conferred on individuals. This applies all the more if, as in the US, these individual rights were defined by a constitution erected when corporations were an insignificant part of the economic landscape; or, as in Europe, are based on a Convention on Human Rights written with entirely different purposes in mind. Neither of these documents yields a rational basis for delivering the relationships between the corporation and the governments of the states in which it operates.
The fundamental rights of the individual are to exist, to make decisions within an appropriate sphere of autonomy, and to take part in the political processes of an open and democratic society. These entitlements do not have corporate analogues. The corporation has no necessary right to exist.