By Rob McQueen
The background of incorporations laws and its management is in detail tied to adjustments in social ideals in recognize to the position and function of the company. by way of learning the evolution of the company shape in Britain and a few its colonial possessions, the ebook illuminates debates on key strategies together with the meanings of laissez faire, freedom of trade, the proposal of company accountability and the function of the kingdom within the rules of commercial. In doing so, the e-book advances our knowing of the form, effectiveness and deficiencies of contemporary regulatory regimes.
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Additional info for A Social History of Company Law
On the other hand, if one conceives of corporate law and regulation as overdetermined institutions then it becomes clear that a diverse range of policies can be inscribed into the framework of corporate law. 10 If one is to consider the range of possible forms which company law may take it is also important to challenge Whiggish interpretations of the history of modern company law, as a progression from an ignorant past in which the prevailing forms of business organization held back economic development towards a present in which available forms of business organization are better attuned to the economic structure of society.
It was widely recognized that many of the largest undertakings of the time, such as the development of canals and the building of railways, would not have occurred without a corporate structure within which to marshal investment. Nevertheless the lack of regulatory controls on corporations and the abuses perpetrated on the unsuspecting investing public by unscrupulous promoters and directors led to a widespread suspicion of ‘the corporation’ as an organizational framework within which to marshal capital and conduct undertakings.
The potential such an approach presents for striking a satisfactory balance between the needs of enforcement agencies on the one hand and the requirements of commercial reality on the other has been noted in several recent commentaries on company law. One such commentary noted: The power existed to create companies with ‘mixed’ liability, that is with different classes of members having different limits, or no limits at all on their liability. Moreover, theoretically, any limit of liability could be chosen; hence the limit could be below the amount of the member’s initial contribution (ultra-limitedliability) or above that amount, allowing for a decrease in limited liability as normally understood.
A Social History of Company Law by Rob McQueen