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As English adventurer Francis Drake and his contemporaries opened up seaborne trade with Asia and the East, so dreams of untold wealth fuelled the appetites of European nations. A new form of co-operation arose between governments and entrepreneurs - the merchant company. Vital to the entire commercial and colonial endeavour, part of the story of Empire lies in the outposts they established."The Company's Island" focuses upon one such company colony - St Helena. With no indigenous population on the island, the East India Company had to establish a society from scratch but far from settling 'in love and amity' a repressive and turbulent regime ensued. The civilian population rebelled, the garrison mutinied, assassinating the governor, and a rebellion by black slaves was savagely punished. The result is a vivid, compelling tale involving issues of race, morality, gender, trade and defence within the context of Empire. Drawing on new archival material, the author sheds fresh light on an important yet little known aspect of the colonial endeavour.
This book adopts a historical perspective to highlight, and bring back into focus, the key features of the modern company. A central argument in the book is that legal personhood attaching to an entity containing a corporate fund seeded by shareholders is a direct and inevitable consequence of limited liability and the company's status as a separate legal entity from its shareholders. Management by a board subject to legal duties to the company as an entity that can exist in perpetuity facilitates a long term perspective by the board that can accommodate both shareholder and stakeholder interests. These defining characteristics differentiate the modern company from other business forms. The Making of the Modern Company applies a 21st-century lens to the corporation through its history to identify turning points in its development. It sets out how key features emerged in the course of two separate developmental cycles in English corporate law: first with the English East India Company in the 17th century, and then with general incorporation statutes in the 2nd half of the 19th century. The book's historical perspective highlights that the key features are part of the 'secret sauce' of modern companies. Each cycle coincided with unparalleled periods of economic success associated with corporate activity This book will be of interest to corporate law and governance academics, theorists and practitioners, those who study the company from related disciplines, and anyone who questions why uncertainty still exists about the structure of a legal form that has been described as 'amongst mankind's greatest inventions'.