Over the centuries, they spread from England to the rest of the world because they play an important role quite well: they allow people to pool their resources for a common project while protecting their non-invested personal assets from potential bankruptcy.
People want to do business. People want themselves and their families to be protected from utter financial ruin if their project fails and ends in bankruptcy. People want to maintain some kind of continuity in businesses even if an important individual dies or becomes incapacitated.
Legal personae - corporations - are the solution to this set of requirements, whose functionality has been tested by centuries. They will outlast us for this reason alone.
Over the centuries, they spread from England to the rest of the world because they play an important role quite well: they allow people to pool their resources for a common project while protecting their non-invested personal assets from potential bankruptcy.
People want to do business. People want themselves and their families to be protected from utter financial ruin if their project fails and ends in bankruptcy. People want to maintain some kind of continuity in businesses even if an important individual dies or becomes incapacitated.
Legal personae - corporations - are the solution to this set of requirements, whose functionality has been tested by centuries. They will outlast us for this reason alone.