They can.
https://en.wikipedia.org/wiki/Corporate_death_penalty
Personally I prefer the avenue where all their IP is copylefted. Really, its a great way to spur innovation.
I hope one day we do this to all for profit companies. Imagine all for profit companies IP becoming open source, and only allowing nonprofits to form to replace them. It would be a huge Renaissance and economic success
Wait, that one was against civil rights?!?