The evolution of corporations and corporate associations` development

Abstract

In this paper there was an attempt to explore the evolution of corporations and corporate associations` into the form we know today. The corporation has been defined in many ways as interpreted by individuals; however lawyers and economists call it a nexus of contracts. This means that a corporation is nothing but a sum of all the agreements which lead to its creation. Corporations are also defined as a device for obtaining individual profit without individual responsibility. To define it more visually, a corporation is a structure established wherein different parties come together and each provides capital, labor or expertise to maximize profits for all of them. A corporation has wide variety of constituents and it needs to relate to all of them; like investors, shareholders, customers, employees, suppliers, creditors, government and finally the community. explore the evolution of corporations into the form we know today. In this paper the authors have analyzed some aspects regarding the basic elements in the evolution of corporations and corporate associations’ development from the appearance of the simplest forms in antiquity and to the present times.