In August 2003, the RF government approved the Program (Plan) for Privatization of Federal Property in 2004 and the Basic Lines of Privatization of Federal Property until 2006, whereby it is planned, before 2006, to complete the reorganization of state controlled enterprises in the defense industry as joint stock companies and the privatization of stakes in joint stock companies that fail to contribute to the performance of state functions and tasks.

A decade later, the government spun off larger enterprises, converting them into joint stock companies that gave managers and employees ownership, although in many cases the state still retained majority control.

Supreme Court--that citadel of rich white males--decided that joint stock companies (corporations) were "persons" while African Americans and Native Americans were not.