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Yes, but constituents equals everyone. While corporations are a selected few.
The OP did not suggest that Corporations become governments rather it suppested that corporations run countries.
Corporations can be privately owned as well as owned by a collection of shareholders. In the end, corporations are stictly about profit (as represented by the money flowing to shareholders).
Democractic countries are not about profit. They are about providing collective leadership and pooling resources (to greater or lesser degrees depending on a nations particular bent).
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