The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
A Corporate body is a legal entity which has a continuing legal existence INDEPENDENT of its members. A Partnership may have a separate legal existence, but this is DEPENDENT on its Members - so a partnership ceases to exist when the penultimate partner leaves.
A Corporate body is a "legal person" able to "own" assets and enter into contracts in exactly the same way as an individual.
Joint Stock Companies are a much later innovation. I was aware of the Dutch East India Company, and had thought it the first such "Joint Stock" Company. Fascinated to read of the Bazacle entity therefore.
But I was in fact referring to the Limited Liability Company ("the Corporation") as the bedrock of Capitalism - all Companies prior to the UK legislation - the Limited Liability Act of 1855 - had unlimited liability, as far as I know.
BTW an LLC is something else again - the US Limited Liability Company is not actually a Corporate body (like the Joint Stock Limited Liability "Corporation"), but is an interesting beast in its own right, with many of the good qualities of a partnership.
"The future is already here -- it's just not very evenly distributed"
by Frank Schnittger - May 27 2 comments
by Frank Schnittger - May 5 22 comments
by Frank Schnittger - May 23 1 comment
by Oui - May 13 65 comments
by Carrie - Apr 30 7 comments
by Frank Schnittger - May 272 comments
by Oui - May 2712 comments
by Oui - May 24
by Frank Schnittger - May 231 comment
by Oui - May 1365 comments
by Oui - May 910 comments
by Frank Schnittger - May 522 comments
by Oui - May 449 comments
by Oui - May 312 comments
by Oui - May 29 comments
by gmoke - May 1
by Oui - Apr 30257 comments
by Carrie - Apr 307 comments
by Oui - Apr 2644 comments
by Oui - Apr 879 comments
by Oui - Mar 19143 comments