Table 1.1 Three Phases in the Development of Corporate Rights

PHASE I: 1820-1900LEGISLATIVE CREATION OF CORPORATE QUASI-RIGHTS
QUASI-RIGHT AVAILABLE TO PEOPLE? AVAILABLE TO CORPORATIONS?
Limited liability for shareholders No Gradual statutory revision by states (1820-1900)
Perpetual existence No Switch by states from custom charters to general incorporation (late 1800s)
Virtual location No New Jersey general incorporation law (1889)
Indefinite entity or “shape shifting” No New Jersey general incorporation law (1889)
PHASE II: 1886–1986JUDICIAL CREATION OF CORPORATE CONSTITUTIONAL RIGHTS
RIGHT AVAILABLE TO PEOPLE? AVAILABLE TO CORPORATIONS?
Equal protection (state legislation) Fourteenth Amendment Santa Clara v. Southern Pacific ...

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