Dave Winer has suggested this occasionally, e.g. for Micro Soft.
What does it mean? How would one implement it? Is it appropriate, or does it punish the relatively-innocent workers more than the managers? (On the other hand, that might make workers take more responsibility for the ethics of the organization they join...)
Michael Fraase points to a pamphlet called Taking Care of Business which discusses the act of revoking a corporate charter.
If you're against human Death Penalty, should you be against a CorporateDeathPenalty? Not necessarily, since the Corporation Is APerson metaphor is rather weak.
Maybe settle for Ostrac Ism?