Article: Corporations and Business Regulation

Corporations and Business Regulation

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Free Incorporation. Like private law, the changing legal treatment of corporations reflected an assault on privilege and the impact of an erratic economy. Anglo-American law originally viewed the process of incorporation as a grant of authority issued by the government to private persons charged with performing specific tasks that benefited the public as well as the investors in the corporation. A good example is a corporation created to build a bridge, which would improve transportation for the community and make a regulated profit by charging tolls. The mechanism for policing corporations was the corporate charter, issued on a one-by-one ...

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