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The truth is that many companies would prefer not to be associated with certain things, and they'll act strongly against anyone they feel stands for such a thing. So even if it's done on personal time and not in the name of the company, it could still cause some trouble for them.
That's true too, over time I've realized that, our lives have moved into a virtual field, so as you said, companies really value the internet too, a way of showing their vision and what they believe in.