1013:
and make reparation for wrongs. Limited liability is founded on the opposite principle and permits a man to avail himself of acts if advantageous to him, and not to be responsible for them if they should be disadvantageous; to speculate for profits without being liable for losses; to make contracts, incur debts, and commit wrongs, the law depriving the creditor, the contractor, and the injured of a remedy against the property or person of the wrongdoer, beyond the limit, however small, at which it may please him to determine his own liability.
2764:
939:, as where shares are partly paid, the investor would be liable for the remainder of the nominal value in case the company could not pay its debts. Shares with nominal values of up to ÂŁ1,000 were therefore subscribed to with only a small payment, leaving even a limited liability investor with a potentially crushing liability and restricting investment to the very wealthy. During the
62:
924:
enterprise, by removing the threat that an individual's total wealth would be confiscated if invested in an unsuccessful company. Large sums of personal financial capital became available, and the transferability of shares permitted a degree of business continuity not possible in other forms of enterprise.
1012:
hat he who acts through an agent should be responsible for his agent's acts, and that he who shares the profits of an enterprise ought also to be subject to its losses; that there is a moral obligation, which it is the duty of the laws of a civilized nation to enforce, to pay debts, perform contracts
923:
Similar statutory regimes were in place in France and in the majority of the U.S. states by 1860. By the final quarter of the nineteenth century, most
European countries had adopted the principle of limited liability. The development of limited liability facilitated the move to large-scale industrial
1029:
because this leads to excessive risk-taking and negative externalities by corporations. Others argue that limited liability should be permitted, but should be taxed more heavily to offset the harm that limited liability causes. Such taxes could be structured to generate information for regulators
794:
of the company's debts to those lending to the company. They will then be liable for those debts that the company cannot pay, although the other shareholders will not be so liable. This is known as co-signing. A shareholder who is also an employee of the corporation may be personally liable for
973:, requiring that member states make available legal structures for individuals to trade with limited liability. This was implemented in England and Wales in the Companies (Single Member Private Limited Companies) Regulations 1992, which allowed single-member limited-liability companies.
955:
Although it was admitted that those who were mere investors ought not to be liable for debts arising from the management of a corporation, throughout the late nineteenth century there were still many arguments for unlimited liability for managers and directors on the model of the French
852:
from its inception, that may be grounds for piercing the corporate veil. Further, if injustice/fraud to the creditor is proven, the parent entity or the owner may be held liable to compensate the creditor. Thus, there is not one characteristic that defines the piercing of a corporate
1071:
of a ship, and the master and members of the crew, to limit their liability for damage caused by events occurring "on board or in direct connection with the operation of the ship, or with salvage operations" and for "consequential loss resulting therefrom".
789:
Although a shareholder's liability for the company's actions is limited, the shareholders may still be liable for their own acts. For example, the directors of small companies (who are frequently also shareholders) are often required to give
907:
There was a degree of public and legislative distaste for a limitation of liability, with fears that it would cause a drop in standards of probity. The 1855 Act allowed limited liability to companies of more than 25 members (shareholders).
765:
is not personally liable for any of the debts of the company, other than for the amount already invested in the company and for any unpaid amount on the shares in the company, if any—except under special and rare circumstances that permit
962:. Such liability for directors of English companies was abolished in 2006. Further, it became increasingly common from the end of the nineteenth century for shareholders to be directors, protecting themselves from liability.
810:(i.e., more harm to third parties) than would be produced in the absence of limited liability. According to one estimate, negative corporate externalities on an annual basis are equal to between 5 and 20 percent of U.S. GDP.
841:, in the United States, a parent entity and the sole owner are not liable for the acts of its subsidiaries. However, they may be liable for its subsidiaries' obligations when the law supports "piercing the corporate veil".
951:
and the unpaid portion of the shares fell due. Further, the extent to which small and medium investors were excluded from the market was admitted and, from the 1880s onwards, shares were more commonly fully paid.
912:
companies were excluded from the act, though it was standard practice for insurance contracts to exclude action against individual members. Limited liability for insurance companies was allowed by the
753:
is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company or joint venture. If a company that provides limited liability to its investors is sued, then the
1049:, a fellow libertarian, who stated that a "libertarian society would be a full-liability society where everyone is fully responsible for his actions and any harmful consequences they might cause".
1064:
1058:
806:(or harms that have not been agreed to in advance) is controversial because of concerns that such limited liability could lead to excessive risk-taking by companies and more negative
802:
entered by the corporation is not controversial because this could and probably would be agreed to by both parties to the contract. However, limited liability for shareholders for
848:
from the subsidiary (through inadequate/ undocumented transfer of funds and assets), the judgment is likely to be in favor of the creditor. In the same regard, if a subsidiary is
856:
If shares are issued "part-paid", then the shareholders are liable, when a claim is made against the capital of the company, to pay to the company the balance of the face or
2523:
611:
569:
2116:
327:
2124:
524:
733:
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2046:
1825:
1772:
1557:
1367:
1244:
428:
237:
2304:
Hickson, C.R.; Turner, J.D. (2003). "The trading of unlimited liability bank shares in nineteenth-century
Ireland: The Bagheot Hypothesis".
416:
360:
319:
795:
actions the employee takes in that capacity on behalf of the corporation, in particular torts committed within the scope of employment.
298:
1462:
86:
2780:
2674:
2599:
2144:
365:
757:
are generally entitled to collect only against the assets of the company, not the assets of its shareholders or other investors. A
2509:
814:
442:
343:
2775:
2684:
1087:
2270:
2000:
Amsler, C.F.; et al. (1981). "Thoughts of some
British economists on early limited liability and corporate legislation".
2785:
2437:
1984:
1946:
1783:
897:
970:
2821:
771:
268:
202:
1985:
Convention on limitation of liability for maritime claims, 1976 (with final act). Concluded at London on 19 November 1976
2639:
996:
Limited liability has been justified as promoting investment and capital formation by reassuring risk averse investors.
452:
1898:
2744:
2734:
1659:
1604:
1488:
767:
726:
639:
116:
1489:"The Five Most Common Ways to Pierce the Corporate Veil and Impose Personal Liability for Corporate Debts | Lexology"
958:
2198:
Grossman, P.Z. (1995). "The market for shares of companies with unlimited liability: the case of
American Express".
1166:
2659:
901:
335:
111:
96:
2826:
2790:
2428:
Millon, D. (2007). "Piercing the
Corporate Veil, Financial Responsibility, and the Limits of Limited Liability".
1711:
1081:
684:
619:
408:
278:
106:
35:
1017:
Others argue that while some limited liability is beneficial, the privilege ought not to extend to liability in
2770:
2699:
2589:
2064:
893:
579:
446:
121:
81:
2574:
2559:
2549:
2261:
1236:
916:. The minimum number of members necessary for registration as a limited company was reduced to seven by the
288:
209:
2729:
2679:
2128:
1022:
719:
601:
375:
248:
162:
127:
91:
45:
2816:
2811:
2614:
2609:
2554:
2362:
2034:
940:
845:
544:
76:
2654:
2634:
2604:
2275:
1903:
1722:
1046:
783:
669:
606:
993:
by various economists, enabling large sums to be pooled towards an economically beneficial purpose.
2594:
1171:
1104:
849:
775:
644:
398:
370:
224:
197:
192:
182:
1787:
2714:
2689:
2669:
2664:
2649:
2629:
2584:
2321:
2292:
2244:
2227:
Halpern, P.; et al. (1980). "An economic analysis of limited liability in corporation law".
2215:
2164:
2110:
2081:
1967:
1920:
1676:
1621:
1435:
1329:
1321:
1296:
1196:
1188:
1005:
917:
913:
885:
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564:
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457:
137:
132:
101:
1549:
1543:
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2704:
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2042:
1821:
1553:
1444:
1405:
1363:
1313:
1240:
1151:
1147:
1093:
1034:
982:
494:
382:
257:
219:
214:
2383:
Lobban, M. (1996). "Corporate identity and limited liability in France and
England 1825–67".
2345:
Jefferys, J.B. (1954) "The denomination and character of shares, 1855–1885", in Carus-Wilson
853:
veil – a factors test is used to determine if piercing is appropriate or not.
2619:
2313:
2284:
2236:
2207:
2156:
2009:
1959:
1912:
1859:
1813:
1668:
1613:
1431:"Finding Order in the Morass: The Three Real Justifications for Piercing the Corporate Veil"
1355:
1305:
1180:
1138:
990:
932:
889:
779:
702:
689:
634:
534:
1033:
The notion of corporate limited liability has met criticism from certain figures among the
2749:
2739:
2719:
2624:
2579:
2564:
2544:
2375:
2093:
1773:"Piercing the Corporate Veil, Financial Responsibility, and the Limits of Limed Liability"
1042:
1026:
944:
762:
750:
674:
629:
352:
177:
31:
2191:
Joint-Stock
Enterprise in France 1807–1867: From Privileged Company to Modern Corporation
1267:
1430:
2644:
2335:
2021:
1167:"The Limited Liability Company: A Catalyst Exposing the Corporate Integration Question"
966:
818:
2805:
2709:
2325:
2219:
2026:
1848:"Limited liability, shareholder rights and the problem of corporate irresponsibility"
1578:
1200:
838:
807:
554:
436:
403:
53:
1333:
1098:
514:
504:
27:
Business structure where shareholders cannot owe more than their stake in a venture
1230:
17:
2533:
1806:"Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure"
1805:
1347:
986:
936:
928:
881:
869:
821:
and the sole owner need to be subject to the subsidiary's liabilities, when the
758:
650:
187:
172:
167:
2058:
1817:
1359:
1030:
about how risky the activities companies are undertaking are to third parties.
2317:
2013:
1657:
Jefferys, J.B. (1954). "The denomination and character of shares, 1855–1885".
1487:
Jimerson; Jimerson, Cobb P. A.-Charles B.; Snell, Brittany N. (2 March 2016).
948:
822:
707:
473:
423:
2415:
Meiners, R.E.; et al. (1979). "Piercing the veil of limited liability".
1602:
Saville, J. (1956). "Sleeping partnership and limited liability, 1850–1856".
1448:
1317:
900:, although investors in such companies carried unlimited liability until the
888:. The world's first modern limited liability law was enacted by the state of
2569:
909:
857:
826:
1389:
Tyranny of the bottom line: why corporations make good people do bad things
1133:
2501:
1899:"The limited future of unlimited liability: a capital markets perspective"
1963:
1864:
1847:
873:
834:
786:
are each liable for all the debts of the business (unlimited liability).
754:
679:
1971:
1941:"Limited liability and the modern corporation in theory and in practice"
1940:
1573:
981:
Some argue that limited liability is related to the concept of separate
2168:
1680:
1625:
1325:
1192:
157:
2296:
2248:
2103:
Modern
Company Law for a Competitive Economy: Developing the Framework
1924:
920:. Limited companies in England and Wales now require only one member.
1291:
1068:
877:
2160:
1672:
1617:
1309:
1184:
2288:
2240:
2211:
1916:
61:
1955:
844:
Provided that the parent entity or the sole owner do not maintain
2471:
Shannon, H.A. (1931). "The coming of general limited liability".
2337:
The
Development of the Business Corporation in England, 1800–1867
2489:"The first five thousand limited companies and their duration".
1065:
London
Convention on Limitation of Liability for Maritime Claims
1018:
830:
2505:
1938:
Blankenburg, Stephanie; Plesch, Dan; Wilkinson, Frank (2010).
1008:, a lifelong member of the Conservative Party, wrote in 1855:
320:
Charitable incorporated organisation (England and Wales)
1400:
1398:
884:
charters were awarded by the crown to monopolies such as the
2271:"Toward unlimited shareholder liability for corporate torts"
2176:
Edwards, V. (1998). "The EU Twelfth Company Law Directive".
1463:"The Three Justifications for Piercing the Corporate Veil"
1059:
Convention on Limitation of Liability for Maritime Claims
927:
In the UK there was initially a widespread belief that a
1512:
1292:"A Procedural Focus on Unlimited Shareholder Liability"
2463:
Select Committee on the Limited Liability Acts (1867)
2353:
Livermore, S. (1935). "Journal of Political Economy".
2193:. Chapel Hill, NC: University of North Carolina Press.
2060:
Essays in the Earlier History of American Corporations
1987:, no. 24635, Article 2(1)(a), accessed 18 October 2020
892:
in 1811. In England it became more straightforward to
1574:"The key to industrial capitalism: limited liability"
1290:
Hansmann, Henry; Kraakman, Reinier (December 1992).
2400:(22nd ed.). London: Oxford University Press.
2334:
1939:
1812:, Oxford: Blackwell Publishing, pp. 162–176,
880:with commonly held property. In the 17th century,
2125:"Company Law Reform Bill – White Paper (Cm 6456)"
1804:Jensen, Michael C.; Meckling, William H. (2004),
749:is a legal status in which a person's financial
1010:
2101:Department of Trade and Industry (UK) (2000).
328:Scottish charitable incorporated organisation
2517:
2024:(1867). "The New Joint Stock Companies Act".
1429:Macey, Jonathan; Mitts, Joshua (2014-11-01).
1067:permit the charterer, manager, operators and
727:
8:
1542:(1996). Adam Kuper and Jessica Kuper (ed.).
1039:For a New Liberty: The Libertarian Manifesto
2524:
2510:
2502:
2341:. Cambridge, MA: Harvard University Press.
2115:: CS1 maint: location missing publisher (
1063:The 1957 Brussels Convention and the 1976
734:
720:
244:
40:
2143:Easterbrook, F.H.; Fischel, D.R. (1985).
2076:(vol. 1 ed.). London: Edward Arnold.
1863:
1534:
1532:
1134:"Limited Liability and the Known Unknown"
770:". The same is true for the members of a
2398:Mayson, French & Ryan on Company Law
2145:"Limited liability and the corporation"
1115:
798:Limited liability for shareholders for
465:
390:
309:
247:
52:
2371:
2360:
2108:
2089:
2079:
1004:An early critic of limited liability,
429:Limited liability limited partnership
344:Industrial and provident society
2447:Limited Liability and the Corporation
2063:(vols. 1–2 ed.). Cambridge, MA:
971:Twelfth Council Company Law Directive
947:(1873–1896) many companies fell into
526:Gesellschaft mit beschränkter Haftung
7:
1285:
1283:
1127:
1125:
1123:
1121:
1119:
896:a joint stock company following the
817:exposure is whether the assets of a
2269:Hansmann, H.; Kraakman, R. (1991).
989:, which is promoted as encouraging
2396:Mayson, S.W.; et al. (2005).
2041:. London: Economist Publications.
25:
2417:Delaware Journal of Corporate Law
2229:University of Toronto Law Journal
2072:Carus-Wilson, E.M. (ed.) (1954).
2039:Collected Works of Walter Bagehot
2030:. Vol. 25. pp. 982–983.
1410:LII / Legal Information Institute
872:had awarded limited liability to
2763:
2762:
2149:University of Chicago Law Review
1761:Easterbrook & Fischel (1985)
1088:Salomon v A Salomon & Co Ltd
571:Société à responsabilité limitée
60:
1545:The Social Science Encyclopedia
1268:"When LLC Owners Can Be Liable"
2438:Emory University School of Law
1947:Cambridge Journal of Economics
1887:Hansmann & Kraakman (1991)
1852:Cambridge Journal of Economics
1784:Emory University School of Law
898:Joint Stock Companies Act 1844
774:and the limited partners in a
1:
1513:"Piercing the corporate veil"
1406:"Piercing the Corporate Veil"
772:limited liability partnership
2481:, reprinted in Carus-Wilson
2002:History of Political Economy
1810:Economic Analysis of the Law
1647:Mayson, et al. (2005), p. 55
1354:, Palgrave Macmillan, 2015,
837:. As a general principle of
453:Massachusetts business trust
2306:Journal of Economic History
1660:The Economic History Review
1605:The Economic History Review
1216:Piercing the corporate veil
1101:– for mining companies only
1094:Unlimited liability company
768:piercing the corporate veil
640:Piercing the corporate veil
336:Community interest company
311:UK / Ireland / Commonwealth
299:Economic interest grouping
2843:
2074:Essays in Economic History
1818:10.1002/9780470752135.ch17
1360:10.1057/9781137314505.0004
1056:
935:by having its shares only
931:needed to demonstrate its
902:Limited Liability Act 1855
409:Limited liability company
29:
2758:
2540:
2385:Anglo-American Law Review
2318:10.1017/S0022050703002493
2014:10.1215/00182702-13-4-774
1348:"Pigou in the Foreground"
1229:Hannigan, Brenda (2018).
1214:Presser, Stephen (2018).
1082:Limited liability company
846:separate legal identities
763:limited liability company
620:Internal affairs doctrine
615:and estoppel corporations
36:limited liability company
2781:Aspects of organizations
2467:(329) X. 393, p. 31
2445:Orhnial, T, ed. (1982).
2200:Journal of Legal Studies
2065:Harvard University Press
1897:Grundfest, J.A. (1992).
44:This article is part of
30:Not to be confused with
2675:Social entrepreneurship
2262:Oxford University Press
2189:Freedman, C.E. (1979).
1467:corpgov.law.harvard.edu
1237:Oxford University Press
1023:environmental disasters
290:Societas unius personae
152:General corporate forms
2776:Aspects of occupations
2449:. London: Croom Helm.
2370:Cite journal requires
2127:. 2005. Archived from
1752:Halpern, et al. (1980)
1743:Meiners, et al. (1979)
1015:
876:communities and trade
602:Business judgment rule
2786:Aspects of workplaces
2685:Social responsibility
2256:Hannigan, B. (2003).
2105:. London. URN 00/656.
1638:Amsler, et al. (1981)
1548:. Routledge. p.
1132:Sim, Michael (2018).
959:société en commandite
941:Overend Gurney crisis
868:By the 15th century,
546:Naamloze vennootschap
536:Kabushiki gaisha
353:Limited company
2822:Corporate governance
2465:Parliamentary Papers
2276:The Yale Law Journal
2057:Davis, J.S. (1917).
1904:The Yale Law Journal
1846:Ireland, P. (2008).
1723:Statutory Instrument
1582:. December 23, 1999.
1165:Pace, Susan (1996).
943:(1866–1867) and the
784:general partnerships
761:in a corporation or
670:Beneficial ownership
607:Corporate governance
443:Delaware corporation
270:Societas cooperativa
2333:Hunt, B.C. (1936).
1172:Michigan Law Review
1105:Proprietary company
1045:approvingly quoted
792:personal guarantees
776:limited partnership
685:Corporate registers
645:Rochdale Principles
399:Benefit corporation
225:Sole proprietorship
2767:See also templates
2485:, pp. 358–379
2349:, pp. 344–357
2092:has generic name (
2035:St John-Stevas, N.
1964:10.1093/cje/beq028
1865:10.1093/cje/ben040
1436:Cornell Law Review
1352:Arthur Cecil Pigou
1297:Harvard Law Review
1043:Murray N. Rothbard
1006:Edward William Cox
918:Companies Act 1856
914:Companies Act 1862
886:East India Company
486:Aktiengesellschaft
458:Nevada corporation
2799:
2798:
2456:978-0-7099-1919-3
2430:Emory Law Journal
2407:978-0-19-928531-0
2048:978-0-85058-083-9
1827:978-0-470-75213-5
1780:Emory Law Journal
1559:978-0-415-20794-2
1540:Reekie, W. Duncan
1369:978-1-137-31450-5
1246:978-0-19-878770-9
1154:– via SSRN.
1035:libertarian right
983:legal personality
747:Limited liability
744:
743:
625:Limited liability
587:
586:
496:Ansvarlig selskap
383:Unlimited company
220:Shelf corporation
215:Shell corporation
203:Limited liability
18:Limited Liability
16:(Redirected from
2834:
2827:Public liability
2791:Corporate titles
2766:
2765:
2600:Machiavellianism
2526:
2519:
2512:
2503:
2498:
2491:Economic History
2480:
2473:Economic History
2460:
2441:
2424:
2411:
2392:
2379:
2373:
2368:
2366:
2358:
2342:
2340:
2329:
2300:
2283:(7): 1879–1934.
2265:
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2223:
2194:
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2172:
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2137:
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2120:
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2106:
2097:
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2077:
2068:
2052:
2031:
2017:
1988:
1982:
1976:
1975:
1943:
1935:
1929:
1928:
1894:
1888:
1885:
1879:
1876:
1870:
1869:
1867:
1843:
1837:
1836:
1835:
1834:
1801:
1795:
1794:
1792:
1786:. Archived from
1777:
1768:
1762:
1759:
1753:
1750:
1744:
1741:
1735:
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1726:
1720:
1714:
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1502:
1500:
1499:
1493:www.lexology.com
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1226:
1220:
1219:
1211:
1205:
1204:
1162:
1156:
1155:
1139:Duke Law Journal
1129:
991:entrepreneurship
985:bestowed on the
933:creditworthiness
850:undercapitalized
782:and partners in
780:sole proprietors
736:
729:
722:
690:Registered agent
635:Drag-along right
575:
560:
550:
540:
530:
520:
510:
500:
490:
480:
449:
432:
412:
356:
347:
339:
331:
323:
312:
302:
294:
284:
280:Societas privata
274:
264:
245:
64:
41:
21:
2842:
2841:
2837:
2836:
2835:
2833:
2832:
2831:
2802:
2801:
2800:
2795:
2771:Aspects of jobs
2754:
2536:
2530:
2488:
2470:
2457:
2444:
2427:
2414:
2408:
2395:
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2255:
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2197:
2188:
2175:
2161:10.2307/1599572
2142:
2134:
2132:
2123:
2107:
2100:
2088:
2078:
2071:
2056:
2049:
2033:
2032:, reprinted in
2020:
1999:
1996:
1991:
1983:
1979:
1937:
1936:
1932:
1896:
1895:
1891:
1886:
1882:
1878:Grossman (1995)
1877:
1873:
1845:
1844:
1840:
1832:
1830:
1828:
1803:
1802:
1798:
1790:
1775:
1771:Millon, David.
1770:
1769:
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1760:
1756:
1751:
1747:
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1733:
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1721:
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1710:
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1701:
1697:
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1673:10.2307/2590580
1656:
1655:
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1646:
1642:
1637:
1633:
1618:10.2307/2598493
1601:
1600:
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1567:
1560:
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1497:
1495:
1486:
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1472:
1470:
1469:. 27 March 2014
1461:
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1341:
1310:10.2307/1341705
1289:
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1247:
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1208:
1185:10.2307/1290118
1164:
1163:
1159:
1131:
1130:
1117:
1113:
1078:
1061:
1055:
1053:Maritime claims
1027:personal injury
1002:
979:
945:Long Depression
866:
860:of the shares.
778:. By contrast,
740:
695:
694:
675:Civil procedure
665:
657:
656:
630:Tag-along right
597:
589:
588:
573:
558:
548:
538:
528:
518:
508:
498:
488:
478:
447:statutory trust
441:
430:
410:
354:
351:
345:
337:
329:
321:
310:
300:
292:
282:
272:
262:
242:
240:by jurisdiction
239:
238:Corporate forms
230:
229:
210:Private limited
178:Holding company
153:
145:
144:
126:
72:
71:By jurisdiction
39:
32:limited company
28:
23:
22:
15:
12:
11:
5:
2840:
2838:
2830:
2829:
2824:
2819:
2814:
2804:
2803:
2797:
2796:
2794:
2793:
2788:
2783:
2778:
2773:
2768:
2759:
2756:
2755:
2753:
2752:
2747:
2742:
2737:
2732:
2727:
2722:
2717:
2712:
2707:
2702:
2700:Sustainability
2697:
2692:
2687:
2682:
2677:
2672:
2667:
2662:
2657:
2652:
2647:
2642:
2637:
2632:
2627:
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2597:
2592:
2587:
2582:
2577:
2572:
2567:
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2557:
2552:
2547:
2541:
2538:
2537:
2531:
2529:
2528:
2521:
2514:
2506:
2500:
2499:
2486:
2468:
2461:
2455:
2442:
2425:
2412:
2406:
2393:
2380:
2372:|journal=
2350:
2343:
2330:
2312:(4): 931–958.
2301:
2289:10.2307/796812
2266:
2253:
2241:10.2307/825483
2235:(2): 117–150.
2224:
2212:10.1086/467952
2195:
2186:
2173:
2140:
2121:
2098:
2069:
2054:
2053:, pp. ix, 406.
2047:
2037:, ed. (1986).
2018:
2008:(4): 774–793.
1995:
1992:
1990:
1989:
1977:
1930:
1917:10.2307/796841
1911:(2): 387–425.
1889:
1880:
1871:
1858:(5): 837–856.
1838:
1826:
1796:
1793:on 2013-09-16.
1763:
1754:
1745:
1736:
1734:Edwards (1998)
1727:
1715:
1704:
1695:
1686:
1649:
1640:
1631:
1612:(3): 418–433.
1594:
1592:Shannon (1931)
1585:
1565:
1558:
1528:
1504:
1479:
1454:
1421:
1394:
1380:
1368:
1339:
1279:
1259:
1245:
1221:
1206:
1179:(2): 393–446.
1157:
1114:
1112:
1109:
1108:
1107:
1102:
1096:
1091:
1084:
1077:
1074:
1057:Main article:
1054:
1051:
1001:
998:
987:corporate form
978:
975:
967:European Union
865:
862:
742:
741:
739:
738:
731:
724:
716:
713:
712:
711:
710:
705:
703:Company portal
697:
696:
693:
692:
687:
682:
677:
672:
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663:
662:
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658:
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604:
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492:
482:
468:
467:
463:
462:
461:
460:
455:
450:
439:
434:
426:
421:
420:
419:
417:Low-profit LLC
406:
401:
393:
392:
388:
387:
386:
385:
380:
379:
378:
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368:
363:
349:
341:
333:
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314:
313:
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305:
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296:
286:
276:
266:
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249:European Union
243:
236:
235:
232:
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217:
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206:
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185:
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154:
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147:
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143:
142:
141:
140:
135:
128:European Union
124:
119:
114:
109:
104:
99:
97:Cayman Islands
94:
89:
84:
79:
73:
70:
69:
66:
65:
57:
56:
50:
49:
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
2839:
2828:
2825:
2823:
2820:
2818:
2815:
2813:
2810:
2809:
2807:
2792:
2789:
2787:
2784:
2782:
2779:
2777:
2774:
2772:
2769:
2761:
2760:
2757:
2751:
2748:
2746:
2743:
2741:
2738:
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2733:
2731:
2728:
2726:
2723:
2721:
2718:
2716:
2713:
2711:
2708:
2706:
2703:
2701:
2698:
2696:
2693:
2691:
2688:
2686:
2683:
2681:
2678:
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2673:
2671:
2668:
2666:
2663:
2661:
2658:
2656:
2653:
2651:
2648:
2646:
2643:
2641:
2638:
2636:
2633:
2631:
2628:
2626:
2623:
2621:
2618:
2616:
2613:
2611:
2608:
2606:
2603:
2601:
2598:
2596:
2593:
2591:
2588:
2586:
2583:
2581:
2578:
2576:
2575:Entertainment
2573:
2571:
2568:
2566:
2563:
2561:
2560:Communication
2558:
2556:
2553:
2551:
2550:Appointeeship
2548:
2546:
2543:
2542:
2539:
2535:
2527:
2522:
2520:
2515:
2513:
2508:
2507:
2504:
2496:
2492:
2487:
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2478:
2474:
2469:
2466:
2462:
2458:
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2448:
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2435:
2431:
2426:
2422:
2418:
2413:
2409:
2403:
2399:
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2377:
2364:
2356:
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2339:
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2319:
2315:
2311:
2307:
2302:
2298:
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2277:
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2267:
2263:
2259:
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2250:
2246:
2242:
2238:
2234:
2230:
2225:
2221:
2217:
2213:
2209:
2205:
2201:
2196:
2192:
2187:
2183:
2179:
2174:
2170:
2166:
2162:
2158:
2155:(1): 89–117.
2154:
2150:
2146:
2141:
2131:on 2006-05-27
2130:
2126:
2122:
2118:
2112:
2104:
2099:
2095:
2090:|author=
2083:
2075:
2070:
2066:
2062:
2061:
2055:
2050:
2044:
2040:
2036:
2029:
2028:
2027:The Economist
2023:
2019:
2015:
2011:
2007:
2003:
1998:
1997:
1993:
1986:
1981:
1978:
1973:
1969:
1965:
1961:
1957:
1953:
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1948:
1942:
1934:
1931:
1926:
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1774:
1767:
1764:
1758:
1755:
1749:
1746:
1740:
1737:
1731:
1728:
1724:
1719:
1716:
1713:
1708:
1705:
1699:
1696:
1693:Lobban (1996)
1690:
1687:
1682:
1678:
1674:
1670:
1666:
1662:
1661:
1653:
1650:
1644:
1641:
1635:
1632:
1627:
1623:
1619:
1615:
1611:
1607:
1606:
1598:
1595:
1589:
1586:
1581:
1580:
1579:The Economist
1575:
1569:
1566:
1561:
1555:
1551:
1547:
1546:
1541:
1535:
1533:
1529:
1518:
1514:
1508:
1505:
1494:
1490:
1483:
1480:
1468:
1464:
1458:
1455:
1450:
1446:
1442:
1438:
1437:
1432:
1425:
1422:
1411:
1407:
1401:
1399:
1395:
1391:. 1996-06-01.
1390:
1384:
1381:
1371:
1365:
1361:
1357:
1353:
1349:
1343:
1340:
1335:
1331:
1327:
1323:
1319:
1315:
1311:
1307:
1303:
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1269:
1263:
1260:
1248:
1242:
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1234:
1233:
1225:
1222:
1217:
1210:
1207:
1202:
1198:
1194:
1190:
1186:
1182:
1178:
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1168:
1161:
1158:
1153:
1149:
1145:
1141:
1140:
1135:
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1126:
1124:
1122:
1120:
1116:
1110:
1106:
1103:
1100:
1097:
1095:
1092:
1090:
1089:
1085:
1083:
1080:
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1075:
1073:
1070:
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1060:
1052:
1050:
1048:
1044:
1040:
1036:
1031:
1028:
1024:
1020:
1014:
1009:
1007:
999:
997:
994:
992:
988:
984:
977:Justification
976:
974:
972:
968:
965:In 1989, the
963:
961:
960:
953:
950:
946:
942:
938:
934:
930:
925:
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919:
915:
911:
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903:
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895:
891:
887:
883:
879:
875:
871:
863:
861:
859:
854:
851:
847:
842:
840:
839:corporate law
836:
832:
828:
824:
820:
819:parent entity
816:
811:
809:
808:externalities
805:
801:
796:
793:
787:
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781:
777:
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769:
764:
760:
756:
752:
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723:
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700:
699:
698:
691:
688:
686:
683:
681:
678:
676:
673:
671:
668:
667:
664:Related areas
661:
660:
653:
652:
648:
646:
643:
641:
638:
636:
633:
631:
628:
626:
623:
621:
618:
616:
614:
610:
608:
605:
603:
600:
599:
593:
592:
581:
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572:
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566:
563:
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547:
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531:
527:
523:
521:
517:
513:
511:
507:
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501:
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493:
491:
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481:
476:
472:
471:
470:
469:
464:
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456:
454:
451:
448:
444:
440:
438:
437:S corporation
435:
433:
427:
425:
422:
418:
415:
414:
413:
407:
405:
404:C corporation
402:
400:
397:
396:
395:
394:
391:United States
389:
384:
381:
377:
374:
372:
369:
367:
364:
362:
359:
358:
357:
350:
348:
342:
340:
334:
332:
326:
324:
318:
317:
316:
315:
308:
303:
297:
295:
291:
287:
285:
281:
277:
275:
271:
267:
265:
260:
256:
255:
254:
253:
250:
246:
241:
234:
233:
226:
223:
221:
218:
216:
213:
211:
208:
204:
201:
199:
196:
194:
191:
190:
189:
186:
184:
181:
179:
176:
174:
171:
169:
166:
164:
161:
159:
156:
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149:
148:
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136:
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131:
130:
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118:
117:United States
115:
113:
110:
108:
105:
103:
100:
98:
95:
93:
90:
88:
85:
83:
80:
78:
75:
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67:
63:
59:
58:
55:
54:Corporate law
51:
47:
43:
42:
37:
33:
19:
2817:Shareholders
2812:Business law
2730:Transparency
2680:Social media
2534:corporations
2497:: 421. 1932.
2494:
2490:
2482:
2476:
2472:
2464:
2446:
2440:: 1305–1382.
2433:
2429:
2420:
2416:
2397:
2388:
2384:
2363:cite journal
2354:
2346:
2336:
2309:
2305:
2280:
2274:
2257:
2232:
2228:
2203:
2199:
2190:
2181:
2177:
2152:
2148:
2133:. Retrieved
2129:the original
2102:
2073:
2059:
2038:
2025:
2005:
2001:
1980:
1951:
1945:
1933:
1908:
1902:
1892:
1883:
1874:
1855:
1851:
1841:
1831:, retrieved
1809:
1799:
1788:the original
1779:
1766:
1757:
1748:
1739:
1730:
1725:SI 1992/1699
1718:
1707:
1698:
1689:
1667:(1): 45–55.
1664:
1658:
1652:
1643:
1634:
1609:
1603:
1597:
1588:
1577:
1568:
1544:
1539:
1521:, retrieved
1519:, 2020-03-12
1516:
1507:
1496:. Retrieved
1492:
1482:
1471:. Retrieved
1466:
1457:
1440:
1434:
1424:
1413:. Retrieved
1409:
1388:
1383:
1373:, retrieved
1351:
1342:
1301:
1295:
1271:. Retrieved
1262:
1250:. Retrieved
1231:
1224:
1215:
1209:
1176:
1170:
1160:
1143:
1137:
1099:No liability
1086:
1062:
1047:Robert Poole
1038:
1032:
1016:
1011:
1003:
995:
980:
969:enacted its
964:
957:
954:
926:
922:
906:
867:
855:
843:
825:is declared
813:An issue in
812:
803:
799:
797:
788:
746:
745:
649:
624:
612:
570:
555:
545:
535:
525:
516:Aksjeselskap
515:
506:Aktieselskab
505:
495:
485:
474:
361:by guarantee
289:
279:
269:
258:
163:Conglomerate
107:South Africa
2640:Psychopathy
2615:Opportunity
2610:Nationalism
2555:Citizenship
2532:Aspects of
2258:Company Law
2178:Company Law
2022:Bagehot, W.
1958:: 829–830.
1232:Company Law
1146:: 275–332.
937:partly paid
929:corporation
894:incorporate
882:joint stock
870:English law
759:shareholder
651:Ultra vires
371:proprietary
188:Partnership
183:Joint-stock
173:Corporation
168:Cooperative
2806:Categories
2655:Resolution
2635:Propaganda
2605:Narcissism
2590:Interlocks
2479:: 267–291.
2357:: 674–687.
2135:2006-07-03
1994:References
1833:2020-11-03
1712:89/667/EEC
1702:DTI (2005)
1523:2020-04-09
1498:2020-04-09
1473:2020-04-09
1415:2020-04-09
1375:2020-11-03
1304:(2): 446.
1273:2011-12-04
1000:Criticisms
949:insolvency
823:subsidiary
708:Law portal
556:Osakeyhtiö
475:Aktiebolag
424:Series LLC
2595:Liability
2570:Despotism
2326:153679384
2220:154392865
2111:cite book
2082:cite book
1517:Knowledge
1449:0010-8847
1443:(1): 99.
1318:0017-811X
1201:158517043
910:Insurance
858:par value
835:creditors
829:and owes
827:insolvent
815:liability
800:contracts
755:claimants
751:liability
596:Doctrines
366:by shares
82:Australia
2715:Taxonomy
2690:Sourcing
2670:Services
2665:Security
2660:Scandals
2650:Recovery
2630:Promoter
2585:Identity
2483:op. cit.
2347:op. cit.
1972:24231943
1334:55993724
1076:See also
890:New York
874:monastic
680:Contract
613:De facto
445: /
259:Societas
77:Anguilla
46:a series
2725:Trainer
2705:Synergy
2695:Statism
2169:1599572
1681:2590580
1626:2598493
1326:1341705
1252:9 March
1193:1290118
1152:3121519
1069:salvors
864:History
833:to its
580:more...
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