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| Author: | Hicks, A. |
| Title: | Corporate Form: questioning the Unsung Hero |
| Journal: | Journal of Business Law
1997 : JUL, 4, p. 306-330 |
| Index terms: | LAW COMMERCIAL LAW ECONOMICS |
| Language: | eng |
| Abstract: | First introduced in the middle of the nineteenth century, limited liability companies were primarily intended to attract risk capital for large public undertakings. At the hundredth anniversary of the Salomon case, which confirmed their use by small private businesses, it has to be asked whether limited liability is appropriate for all of the million small limited companies that now claim it. Assuming that limited liability is essential to encourage business start-ups, governments have never dared to question the accidental proliferation of private limited companies. |
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