Chapter 24 Business Structures—Think Again

The creation of the limited liability corporation in England changed corporate history. It allowed for massive innovation in capital raising, greater risk taking, and innovation while allowing the founders to protect other portions of their wealth. It is not likely that technology will change the legal concept of the limited liability structure. However, technology and related social changes are influencing critical features within every corporation.

Due to a combination of generational differences in the approach to work as well as a spike in technology driven company start-ups that can evolve very quickly, many corporations are moving from traditional hierarchical structures to flatter more evenly ...

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