This book adopts a historical perspective to highlight, and bring
back into focus, the key features of the modern company. A central
argument in the book is that legal personhood attaching to an
entity containing a corporate fund seeded by shareholders is a
direct and inevitable consequence of limited liability and the
company’s status as a separate legal entity from its
shareholders. Management by a board subject to legal duties to the
company as an entity that can exist in perpetuity facilitates a
long term perspective by the board that can accommodate both
shareholder and stakeholder interests. These defining
characteristics differentiate the modern company from other
business forms. The Making of the Modern Company applies a
21st-century lens to the corporation through its history to
identify turning points in its development. It sets out how key
features emerged in the course of two separate developmental cycles
in English corporate law: first with the English East India Company
in the 17th century, and then with general incorporation statutes
in the 2nd half of the 19th century. The book's historical
perspective highlights that the key features are part of the
'secret sauce' of modern companies. Each cycle coincided with
unparalleled periods of economic success associated with corporate
activity This book will be of interest to corporate law and
governance academics, theorists and practitioners, those who study
the company from related disciplines, and anyone who questions why
uncertainty still exists about the structure of a legal form that
has been described as 'amongst mankind’s greatest inventions'.
General
Imprint: |
Hart Publishing
|
Country of origin: |
United Kingdom |
Series: |
Contemporary Studies in Corporate Law |
Release date: |
November 2023 |
Authors: |
Susan Watson
|
Dimensions: |
234 x 156 x 25mm (L x W x T) |
Format: |
Paperback - Trade
|
Pages: |
384 |
ISBN-13: |
978-1-5099-5968-6 |
Categories: |
Books
|
LSN: |
1-5099-5968-8 |
Barcode: |
9781509959686 |
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