This chapter considers the question of the function of corporations. As is well known, two main answers to the question of what corporations are for have been proposed in the literature: the shareholder-value theory and the stakeholder-value theory. The chapter lays out these two views, and then argues that an appeal to presentist social functionalism shows that the terms of this debate are too constrained. In particular, by applying presentist social functionalism to this debate, it becomes clear that there are further possible functions of corporations that have not even been considered in the literature, and that existing studies of this question have looked at the wrong data, and thus fail to be able to resolve it. This chapter thus shows the practical applicability and fruitfulness of presentist social functionalism—especially compared to its rivals.