scholarly journals Hobbes Meets the Modern Business Corporation

Polity ◽  
2021 ◽  
Vol 53 (1) ◽  
pp. 101-131 ◽  
Author(s):  
R.J.G. Claassen
Keyword(s):  
Business Corporation ◽  
Modern Business

Incomplete Organizations

2020 ◽  
pp. 199-232
Author(s):  
Henry Hansmann ◽  
Reinier Kraakman ◽  
Richard Squire
Keyword(s):  
The State ◽  
Commercial Law ◽  
Legal Entity ◽  
Business Corporation ◽  
Modern Business ◽  
The Republic ◽  
Business Entities ◽  
Insolvency Proceedings ◽  
Personal Assets ◽  
Asset Partitioning

This chapter analyzes ancient Rome’s law of business entities from the perspective of asset partitioning, the delimiting of creditor collection rights based on the distinction between business assets and personal assets. Asset partitioning, which is an essential legal attribute of modern business forms such as the partnership and the business corporation, reduces borrowing costs by simplifying credit-risk assessment and expediting insolvency proceedings. The chapter finds that ancient Roman business arrangements, such as the societas and the slave-run business endowed by the slaveowner with a peculium, did not give business creditors the first claim to business assets, making these forms of organization non-entities according to the criterion of asset partitioning. It appears that the only true legal entity used to form profit-seeking firms was the societas publicanorum, which roughly resembled the modern limited partnership. But use of that form was generally confined to firms that provided public services under contract with the state. Moreover, the societas publicanorum was essentially a creature of the Republic, and was largely abandoned during the Empire. Although Rome had a complex economy and sophisticated commercial law, and was familiar with most of the types of asset partitioning seen in modern legal systems, it ultimately failed to develop legal entities for general use in commerce. Apparent reasons include the Roman aristocracy’s disparagement of commerce, the emperors’ wariness of strong organizations outside the state, and the society’s continuing reliance on the family—a durable and complex legal entity in its own right—to handle many commercial needs.

Legal and Theoretical Foundations of the Business Corporation

2019 ◽  
pp. 3-84
Author(s):  
Carsten Gerner-Beuerle ◽  
Michael Schillig
Keyword(s):  
Limited Liability ◽  
Corporate Law ◽  
Company Law ◽  
Business Corporation ◽  
Legal Personality ◽  
Modern Business ◽  
Historic Development ◽  
The Subject ◽  
National Boundaries ◽  
Theoretical Foundations

In accordance with comparative law methodology, the chapter seeks to define and delineate in functional terms the subject matter of this book. It aims to provide a workable conception of ‘business corporation’ and ‘company law’ that transcends national boundaries. The modern business corporation (or company) is a comparatively recent phenomenon that emerged in the nineteenth and twentieth centuries. Its rise is linked with the development of the modern nation state and capitalism. Despite a growing interest in comparative company law scholarship, most lawyers still approach the subject with preconceptions formed by their own domestic corporate law experience. This can be problematic given that major differences in typology, historical development, regulatory framework, and legal characteristics remain. Consequently, this chapter discusses the concepts and terminology used in this context in common law and civil law systems, explores separate legal personality and limited liability as defining properties of the business corporation, provides an overview of the historic development of the business corporation and of corporate (law) theory, and analyses the sources of domestic corporate law.

scholarly journals KONSEP LIMITED LEABILITY SEBAGAI BADAN HUKUM KORPORASI

2011 ◽  
Vol 3 (1) ◽  
Author(s):  
Burhanuddin Susamto
Keyword(s):  
Islamic Law ◽  
Limited Liability ◽  
Corporate Law ◽  
Business Organization ◽  
Business Corporation ◽  
Modern Business ◽  
Islamic Identity ◽  
Muslim Communities ◽  
The Way

A strong awareness to reassert Islamic identity has emerged in these recent decades. One of the awareness is that the force of some muslim communities to internalize Islamic principles into all institutions. Nyazee, in his work, questions and also explains Islamic principles that must be the base of business organization particularly in corporation scope. The aim of this study is to show the argumentation of Islamize modern business corporation and to offer the way to realize the aim. Therefore, this study needs comprehensive and integrative way based on Islamic law towards liability limited concept as corporate law institution. Pada dekade belakangan ini telah muncul kesadaran yang kuat untuk menegaskan kembali identitas Islam. Salah satu wujudnya adalah desakan sebagian kaum Muslimin yang menghendaki agar semua institusi kehidupan disesuaikan dengan prinsipprinsip Islam. Nyazee sendiri dalam karyanya sangat mempertanyakan dan berusaha menjelaskan prinsip-prinsip Islam yang seharusnya menjadi dasar organisasi bisnis terutama dalam lingkup korporasi. Tujuan dari studi ini adalah untuk menunjukkan mengapa korporasi bisnis modern perlu di-Islamisasi, dan menawarkan bagaimana cara tersebut dapat terwujud. Karena itu untuk mencapai tujuan itu, studi ini membutuhkan upaya yang konprehensif dan terintegrasi menurut Hukum Islam terhadap konsep limited liability sebagai badan hukum korporasi.<br /><br />Kata Kunci: Korporasi, Limited Liability, Badan Hukum

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