It's not just about profits, it's about accountability. That's what the different forms of corporations represent. A singular private person can't and shouldn't be held accountable for every product the produce. A business is a layer of protection of limited (Ltd.) accountability.

this is laughable. Corporations aren't being held accountable for anything anymore because they have personhood rights.

How could anybody be motivated to invent or produce anything if a single miss use of your product that causes any harm (intended or not) could lead to you directly being held responsible and possible going to jail.

People invent and produce things every day. You're confusing yourself with mass production at scale.

A business on the other hand usually has limited accountability but is also held to a much higher standard of quality and proof than a private individual ever could.

no longer the case. a private individual would be put in jail (like you said) for harming one person with a product. who goes to jail when millions are poisoned by a company? Who maintains that standard of quality and proof? The same government that turns a blind eye when millions of Americans are poisoned?

But to get back on topic, People empower the business. Without the people, there is no business.