The myth of the corporation as a creation of the state |
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| Authors: | Gary M Anderson |
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| Institution: | George Mason University, Fairfax VA 22030, USA;Clemson University, Clemson SC 29631, USA |
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| Abstract: | The general movement to joint stock enterprise could not take place until certain economic and legal changes had been effected … The legal change was the substitution of the law of corporations for the law of partnership in company affairs. Investors could then invest safely and full exploitation of the economic changes became possible … Out before the legal changes of 1844 and 1855. English law virtually prohibited joint-stock enterprise for ordinary trading and manufacturing purposes.1 |
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