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139-477: A headquarters is the entity at the top of a corporation that takes full responsibility for the overall success of the corporation, and ensures corporate governance . The corporate headquarters is a key element of a corporate structure and covers different corporate functions including strategic planning , corporate communications , tax , legal operations , marketing , finance , human resources , information technology , and procurement . This entity includes

278-401: A legal person in a legal context) and recognized as such in law for certain purposes. Early incorporated entities were established by charter (i.e., by an ad hoc act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration . Corporations come in many different types but are usually divided by

417-492: A separate legal person was mainly administrative, as a unified entity under which the rights and duties of all investors and managers could be channeled. However, there was still no limited liability and company members could still be held responsible for unlimited losses by the company. The next, crucial development, then, was the Limited Liability Act 1855 , passed at the behest of the then Vice President of

556-745: A Buddhist temple and Japanese Christian chapel – remain in downtown Salt Lake City. European ethnic groups and East Coast missionary groups constructed St. Mark's Episcopal Cathedral in 1874, B'nai Israel Temple in 1890, the Roman Catholic Cathedral of the Madeleine in 1909 and the Greek Orthodox Holy Trinity Cathedral in 1923. This time period also saw the creation of Salt Lake City's now defunct red-light district that employed 300 courtesans at its height before being closed in 1911. During

695-400: A charter granted by the government. As explained above, such charters were often enacted as private bills . Today, a corporation is formed, or incorporated , by registering with the state, province, or national government and regulated by the laws enacted by that government. Registration is the main prerequisite to the corporation's assumption of limited liability. The law sometimes requires

834-489: A corporation are typically controlled by individuals appointed by the members. In some cases, this will be a single individual but more commonly corporations are controlled by a committee or by committees. Broadly speaking, there are two kinds of committee structure. In countries with co-determination (such as in Germany ), workers elect a fixed fraction of the corporation's board. Historically, corporations were created by

973-436: A corporation as: a collection of many individuals united into one body, under a special denomination, having perpetual succession under an artificial form, and vested, by the policy of the law, with the capacity of acting, in several respects, as an individual, particularly of taking and granting property, of contracting obligations, and of suing and being sued, of enjoying privileges and immunities in common, and of exercising

1112-439: A corporation; shareholders instead elect or appoint a board of directors to control the corporation in a fiduciary capacity. In most circumstances, a shareholder may also serve as a director or officer of a corporation. Countries with co-determination employ the practice of workers of an enterprise having the right to vote for representatives on the board of directors in a company. The word "corporation" derives from corpus ,

1251-544: A corridor of contiguous urban and suburban development stretched along a 120-mile (190 km) segment of the Wasatch Front , comprising a population of 2,746,164 (as of 2021 estimates), making it the 22nd largest in the nation. With a population of 200,133 in 2020, it is the 117th most populous city in the United States . It is also the central core of the larger of only two major urban areas located within

1390-401: A damaging windstorm with hurricane-force winds , amidst the wider national George Floyd protests , the global COVID-19 pandemic , and protests against pandemic measures . Salt Lake City has an area of 110.4 square miles (286 km ) and an average elevation of 4,327 feet (1,319 m) above sea level . The lowest point within the boundaries of the city is 4,210 feet (1,280 m) near

1529-424: A distinct name. Historically, some corporations were named after the members of their boards of directors: for example, the " President and Fellows of Harvard College " is the name of one of the two governing boards of Harvard University , but it is also the exact name under which Harvard was legally incorporated. Nowadays, corporations in most jurisdictions have a distinct name that does not need to make reference to

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1668-475: A fault segment was found at the southern edge of the convention center, and expansion plans were halted until more earthquake fault studies could be completed. The city, as well as the county , is laid out on a grid plan . Most major streets run very north–south and east–west. The grid's origin is the southeast corner of Temple Square, the block containing the Salt Lake Temple; the north–south axis

1807-483: A flourishing Chinatown in Salt Lake City nicknamed "Plum Alley", which housed around 1,800 Chinese during the early 20th century. The Chinese businesses and residences were demolished in 1952 although a historical marker has been erected near the parking ramp which has replaced Plum Alley. Immigrants also found economic opportunities in the booming mining industries . Remnants of a once-thriving Japantown – namely

1946-571: A maximum difference of 7,099 feet (2164 m) being achieved with the rise of Twin Peaks from the Salt Lake Valley floor. The Salt Lake Valley floor is the ancient lakebed of Lake Bonneville , which existed at the end of the last ice age . Several Lake Bonneville shorelines can be distinctly seen as terraces on the foothills or benches of nearby mountains. Ancient folds of Lake Bonneville shorelines also lie underneath Salt Lake City, amplifying

2085-527: A more urban and suburban pattern, canal water companies were gradually replaced by culinary water systems. Downtown Salt Lake City has been a hub of commerce for the Intermountain West and its architecture reflects this history. Main Street , which was the primary commercial avenue for the city in the late 19th and early 20th centuries, anchors the historic core of the downtown area that begins at

2224-537: A partnership arose. Early guilds and livery companies were also often involved in the regulation of competition between traders. Dutch and English chartered companies, such as the Dutch East India Company (also known by its Dutch initials: VOC) and the Hudson's Bay Company , were created to lead the colonial ventures of European nations in the 17th century. Acting under a charter sanctioned by

2363-490: A partnership or some other form of collective ownership (in the United States it can be used by a sole proprietorship but this is not generally the case elsewhere). Despite not being human beings, corporations have been ruled legal persons in a few countries, and have many of the same rights as natural persons do. For example, a corporation can own property, and can sue or be sued for as long as it exists. Corporations can exercise human rights against real individuals and

2502-481: A private act to allow an individual to represent the whole in legal proceedings, this was a narrow and necessarily costly expedient, allowed only to established companies. Then, in 1843, William Gladstone became the chairman of a Parliamentary Committee on Joint Stock Companies, which led to the Joint Stock Companies Act 1844 , regarded as the first modern piece of company law. The Act created

2641-466: A proliferation of laws allowing for the creation of corporations by registration across the world, which helped to drive economic booms in many countries before and after World War I. Another major post World War I shift was toward the development of conglomerates , in which large corporations purchased smaller corporations to expand their industrial base. Starting in the 1980s, many countries with large state-owned corporations moved toward privatization ,

2780-527: A result, the population of the surrounding metropolitan area greatly outnumbers Salt Lake City. A major concern of recent government officials has been combating inner-city commercial decay. The city lost population from the 1960s through the 1980s, but experienced some recovery in the 1990s. Presently, the city has gained an estimated 5 percent of its population since the year 2000. The city has experienced significant demographic shifts in recent years. Hispanics now account for approximately 22% of residents and

2919-873: A role in the summer months, causing tropospheric ozone to peak in July & August, but in 2015 it started at the beginning of June. In 2016 Salt Lake's air quality was ranked 6th worst in the nation by the American Lung Association. It received an F grade for both ozone and particulate matter. Particulate pollution is considered especially dangerous, as the tiny pollutants can lodge deep in lung tissue. Both ozone and particulate pollution are associated with increased rates of strokes, heart attacks, respiratory disease, cancer and premature death. Outdoor air particulates have been associated with low and very low birth weight, premature birth, congenital defects, and death. Severe drought and water diversions have shrunk

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3058-481: A tendency to acquire or trade for these water rights. These can then be traded for culinary water rights to water imported into the valley. At its peak, irrigation in the valley comprised over one hundred distinct canal systems, many originating at the Jordan Narrows at the south end of the valley. Water and water rights were important in the 19th and early 20th centuries. As heavy agricultural usage changed into

3197-443: A total average of 60 inches (152 cm), although measurable snow has fallen as early as September 17 and as late as May 28. The snowiest season was 1951–52, with 117.3 inches (298 cm), while the least snowy season was 16.6 inches (42 cm) in 1933–34. The snowiest month on record was January 1993, in which 50.3 inches (128 cm) were recorded. The nearby Great Salt Lake is a significant contributor to precipitation in

3336-958: A variety of political rights, more or less extensive, according to the design of its institution, or the powers conferred upon it, either at the time of its creation or at any subsequent period of its existence. Due to the late 18th century abandonment of mercantilist economic theory and the rise of classical liberalism and laissez-faire economic theory due to a revolution in economics led by Adam Smith and other economists, corporations transitioned from being government or guild affiliated entities to being public and private economic entities free of governmental directions. Smith wrote in his 1776 work The Wealth of Nations that mass corporate activity could not match private entrepreneurship, because people in charge of others' money would not exercise as much care as they would with their own. The British Bubble Act 1720s prohibition on establishing companies remained in force until its repeal in 1825. By this point,

3475-406: Is Main Street; and the east–west axis is South Temple Street. Addresses are coordinates within the system (similar to latitude and longitude ). Odd and even address numbering depends on the quadrant of the grid in which an address is located. The rule is: When traveling away from the grid center (Temple Square) or its axes (Main Street, South Temple Street), odd numbers will be on the left side of

3614-497: Is a small group of staff and communicators. Usually very mobile, they exist to allow the commander to go forward in an operation, and command the key parts of it from a position where they can see the ground and influence their immediate subordinates. The main HQs (known as 'main') is less mobile and is involved in both the planning and execution of operations. There are a number of staff assembled here from various staff branches to advise

3753-473: Is authorized to issue, and the names and addresses of directors. Once the articles are approved, the corporation's directors meet to create bylaws that govern the internal functions of the corporation, such as meeting procedures and officer positions. In theory, a corporation cannot own its own stock. An exception is treasury stock , where the company essentially buys back stock from its shareholders, which reduces its outstanding shares. This essentially becomes

3892-444: Is generally limited to their investment. One of the attractive early advantages business corporations offered to their investors , compared to earlier business entities like sole proprietorships and joint partnerships , was limited liability. Limited liability separates control of a company from ownership and means that a passive shareholder in a corporation will not be personally liable either for contractually agreed obligations of

4031-521: Is home to a significant LGBT community and hosts the annual Utah Pride Festival . It is the industrial banking center of the United States. Salt Lake City and the surrounding area are also the location of several institutions of higher education including the state's flagship research school, the University of Utah . Sustained drought in Utah has strained Salt Lake City's water security , caused

4170-479: Is in London . In Japanese budō martial arts such as karate , judo , aikido , kendo , etc., there is usually a headquarters for each organization or region. The Japanese word honbu (本部) is generally used for that, also outside Japan . Sometimes they refer to these headquarters as honbu dojo (本部道場) in which dojo (道場) is a facility provided for practicing discipline, the training ground. Sometimes honbu

4309-447: Is limited: one can only collect from whatever assets the entity still controls when one obtains a judgment against it. Corporate names are supposed to be unique to the jurisdiction in which the corporation is registered. Governments will not allow another corporation or any other kind of legal entity to register a name that is too similar to the name of an existing corporation. However, since "different states may register entities with

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4448-484: Is mediated by its unique geography, generally keeping highs and lows from reaching extremes. The primary source of precipitation in Salt Lake City is massive storms that move in from the Pacific Ocean along the jet stream from October to May. In mid-to-late summer, when the jet stream retreats far to the north, precipitation mainly comes from afternoon thunderstorms caused by monsoon moisture moving up from

4587-399: Is more economically diverse on the west side, which results in demographic differences. Interstate 15 was also built in a north–south line, further dividing east and west sides of the city. Sugar House , in southeastern Salt Lake City, has a reputation as an older neighborhood with small shops in the center. Sugar House is an area which has been the focus of redevelopment efforts such as

4726-436: Is only 22%. Winters are quite cold but rarely frigid. While an average of 127 days drop to or below freezing, and 26 days with high temperatures that fail to rise above freezing, the city only averages 6.3 days at or below 10 °F (−12.2 °C). The record high temperature is 107 °F (42 °C), which occurred first on July 26, 1960, July 13, 2002, June 16, 2021, July 17, 2022, and most recently September 7, 2022, while

4865-625: Is the capital and most populous city of the U.S. state of Utah . It is the county seat of Salt Lake County , the most populous county in the state. The city is the core of the Salt Lake City Metropolitan Statistical Area (MSA), which had a population of 1,257,936 at the 2020 census. Salt Lake City is further situated within a larger metropolis known as the Salt Lake City–Ogden–Provo Combined Statistical Area ,

5004-438: Is the right place, drive on." Brigham Young is said to have seen the area in a vision before the wagon train's arrival. They found the broad valley empty of any human settlement. Four days after arriving in the Salt Lake Valley, Brigham Young designated the building site for the Salt Lake Temple. The Salt Lake Temple, constructed on the block later called Temple Square, took 40 years to complete. Construction started in 1853, and

5143-407: Is usually required to register with other governments as a foreign corporation and must formally appoint a registered agent to accept service of process within such other jurisdictions. A foreign corporation is almost always subject to the laws of its host state pertaining to external affairs such as employment , crimes , contracts , civil actions , and the like. Corporations generally have

5282-463: Is written as ho m bu , the way it is pronounced, but the Hepburn transcription is honbu in which the 'n' is a syllabic n . Corporation This is an accepted version of this page A corporation is an organization —usually a group of people or a company —authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute";

5421-618: The American Old West . The first group of settlers brought African slaves with them, making Utah the only place in the western United States to have African slavery. Three slaves, Green Flake, Hark Lay, and Oscar Crosby, came west with the first group of settlers in 1847. The settlers also began to purchase Indian slaves in the well-established Indian slave trade, as well as enslaving Indian prisoners of war. In 1850, 26 slaves were counted in Salt Lake County. In 1852,

5560-468: The Great Basin (the other being Reno, Nevada ). Salt Lake City was founded on July 24, 1847, by early pioneer settlers led by Brigham Young who were seeking to escape persecution they had experienced while living farther east. The Mormon pioneers , as they would come to be known, entered a semi-arid valley and immediately began planning and building an extensive irrigation network which could feed

5699-518: The Gulf of California . Although rainfall can be heavy, these storms are usually scattered in coverage and rarely severe. However, downtown was hit by an F2 tornado on August 11, 1999, killing 1 person, injuring 60, and causing $ 170 million in damage. The remnants of tropical cyclones from the East Pacific can rarely reach the city during Fall. The remnants of Hurricane Olivia helped bring

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5838-787: The Hotel Newhouse , and the Salt Lake Theatre . After a period of stagnation in the era of urban sprawl , and with the construction of TRAX in the late 1990s and the City Creek Center in the early 2010s, downtown Salt Lake City is experiencing a period of revival. Empty lots and older structures are in the process of being redeveloped into apartment and office towers and the city has begun to close Main Street to automobile traffic on summer weekends to encourage pedestrian activity and business. More than 5,000 new residential units are planned or under construction for

5977-715: The Industrial Revolution had gathered pace, pressing for legal change to facilitate business activity. The repeal was the beginning of a gradual lifting on restrictions, though business ventures (such as those chronicled by Charles Dickens in Martin Chuzzlewit ) under primitive companies legislation were often scams. Without cohesive regulation, proverbial operations like the "Anglo-Bengalee Disinterested Loan and Life Assurance Company" were undercapitalized ventures promising no hope of success except for richly paid promoters. The process of incorporation

6116-631: The Jordan River and the Great Salt Lake, and the highest is Grandview Peak , at 9,410 feet (2,868 m). The city is in the northeast corner of the Salt Lake Valley surrounded by the Great Salt Lake to the northwest, the steep Wasatch Range to the east, and Oquirrh Mountains to the west. Its encircling mountains contain several narrow canyons, including City Creek , Emigration , Millcreek , and Parley's which border

6255-620: The Latin word for body, or a "body of people". By the time of Justinian (reigned 527–565), Roman law recognized a range of corporate entities under the names Universitas , corpus or collegium . Following the passage of the Lex Julia during the reign of Julius Caesar as Consul and Dictator of the Roman Republic (49–44 BC), and their reaffirmation during the reign of Caesar Augustus as Princeps senatus and Imperator of

6394-457: The Registrar of Joint Stock Companies , empowered to register companies by a two-stage process. The first, provisional, stage cost £5 and did not confer corporate status, which arose after completing the second stage for another £5. For the first time in history, it was possible for ordinary people through a simple registration procedure to incorporate. The advantage of establishing a company as

6533-853: The Roman Army (27 BC–14 AD), collegia required the approval of the Roman Senate or the Emperor in order to be authorized as legal bodies . These included the state itself (the Populus Romanus ), municipalities, and such private associations as sponsors of a religious cult , burial clubs , political groups, and guilds of craftsmen or traders. Such bodies commonly had the right to own property and make contracts, to receive gifts and legacies, to sue and be sued, and, in general, to perform legal acts through representatives. Private associations were granted designated privileges and liberties by

6672-781: The Russian Orthodox Church is in Danilov Monastery , Moscow . The World Council of Churches , including Orthodox Churches, has its headquarters in Geneva , Switzerland . The headquarters of Ecumenical Patriarch of Constantinople is located in Istanbul , Turkey . The headquarters of the Church of Jesus Christ of Latter-day Saints is located in Salt Lake City , Utah . The Anglican Communion Office

6811-844: The Salt Lake Temple and concludes at the City and County Building . Halfway between those two structures, the Walker Center , at the corner of Main and 200 South, was built in 1912 and was the tallest building between Chicago and San Francisco upon its completion. Other extant pre-war structures include the Kearns Building , Hotel Monaco , the First Security Building, the Joseph Smith Memorial Building (formerly Hotel Utah),

6950-606: The UTA S-Line Streetcar . In late 2015 there were approximately 900 apartment units either recently built or under construction in the Sugar House area, with an additional 492 units proposed. Northeast of Downtown is The Avenues, a neighborhood outside of the regular grid system on smaller blocks. The area between 6th Avenue to South Temple Street is a Historical District that is nearly entirely residential, and contains many historical Victorian era homes. Recently

7089-477: The University of Utah , commercial precincts, and the Wasatch foothills. The western neighborhoods of the city, such as Poplar Grove , Rose Park , and Glendale tend to be more working-class and ethnically diverse and are popular with immigrants and young people. This divide is a result of the railroad being built in the western half as well as panoramic views from inclined ground in the eastern portion. Housing

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7228-631: The Utah State Capitol and Democratic lawmakers have introduced legislation in the Utah State Legislature to make public transportation free during January and July, when air quality is usually at its worst. The population of the Salt Lake City metropolitan area is projected to double by 2040, putting further pressure on the region's air quality. The Great Salt Lake is separated from Salt Lake City by extensive marshlands and mudflats. The metabolic activities of bacteria in

7367-729: The War of the Spanish Succession , which gave Great Britain an asiento to trade in the region for thirty years. In fact, the Spanish remained hostile and let only one ship a year enter. Unaware of the problems, investors in Britain, enticed by extravagant promises of profit from company promoters bought thousands of shares. By 1717, the South Sea Company was so wealthy (still having done no real business) that it assumed

7506-614: The chief executive officer (CEO) as a key person and their support staff such as the CEO office and other CEO-related functions; the "corporate policy making" functions, including all corporate functions necessary to steer the firm by defining and establishing corporate policies; the corporate services encompassing activities that combine or consolidate certain enterprise-wide needed support services, provided based upon specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners; and

7645-451: The liquefaction of the clay- and sand-based soil and the possible permanent flooding of portions of the city by the Great Salt Lake. On March 18, 2020, a 5.7 magnitude earthquake , the largest in the Salt Lake City area in modern times, hit Magna , just southwest of Salt Lake City, causing some minor damage throughout the valley. Damage in Salt Lake City was especially evident in historic brick homes— unreinforced masonry buildings —such as

7784-562: The public debt of the British government. This accelerated the inflation of the share price further, as did the Bubble Act 1720 , which (possibly with the motive of protecting the South Sea Company from competition) prohibited the establishment of any companies without a royal charter. The share price rose so rapidly that people began buying shares merely in order to sell them at a higher price, which in turn led to higher share prices. This

7923-570: The territorial prison in Sugar House in the 1880s for violation of anti-polygamy laws. The church began its eventual abandonment of polygamy in 1890, releasing "The Manifesto" , which officially suggested members obey the law of the land (which was equivalent to forbidding new polygamous marriages inside the US and its territories, but not in church member settlements in Canada and Mexico). This paved

8062-652: The 1892 Sears mansion which required demolition after the earthquake. The Warm Springs Fault and the East Bench Fault, offshoots of the Wasatch Fault, were found in 2021 to connect underneath Salt Lake City, increasing the risk of major metropolitan damage from an earthquake. Prior to this, in 1997 the Salt Lake Tribune published a front-page exposé about how the construction of the downtown Salt Palace convention center had been hastened by

8201-419: The 1970s. Salt Lake City has a humid continental climate ( Dsa ), while western parts may experience a Mediterranean climate ( Csa ), as summers are dry and hot and winters are cold and wet, but rarely frigid. Late summer and early fall monsoonal activity can keep precipitation fairly consistent throughout the year aside from early to mid summer when rain is minimal. The temperature of the Salt Lake City area

8340-663: The Avenues is becoming known for restaurants and shops opening in old retail space mixed within the community. The Avenues are situated on the upward-sloping bench in the foothills of the Wasatch Range, with the earlier built homes in the lower elevation. The Avenues, along with Federal Heights , just to the east and north of the University of Utah , and the Foothill area, south of the university, contain gated communities, large, multimillion-dollar houses, and panoramic views of

8479-658: The Board of Trade, Robert Lowe . This allowed investors to limit their liability in the event of business failure to the amount they invested in the company – shareholders were still liable directly to creditors , but just for the unpaid portion of their shares . (The principle that shareholders are liable to the corporation had been introduced in the Joint Stock Companies Act 1844). The 1855 Act allowed limited liability to companies of more than 25 members (shareholders). Insurance companies were excluded from

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8618-791: The Boston and Newhouse Buildings, the Utah State Capitol , and the Clift Building . Salt Lake City has two historic passenger rail depots, the Denver and Rio Grande Western Depot and the Union Pacific Depot , the latter of which now anchors the Gateway district. Salt Lake City lost many significant structures to forces such as urban renewal in the 20th century, including the Dooly Building , designed by Louis Sullivan ,

8757-635: The Confederate States of America, marched through the city and found it had been evacuated. They continued their march through the deserted city to vacant land at the southwest corner of the valley. There they set up Camp Floyd (40 miles (64 km) south of the city). Another military installation, Fort Douglas , was established in 1862 to maintain Union allegiance during the American Civil War . Many area leaders were incarcerated at

8896-713: The Dutch government, the Dutch East India Company defeated Portuguese forces and established itself in the Moluccan Islands in order to profit from the European demand for spices . Investors in the VOC were issued paper certificates as proof of share ownership, and were able to trade their shares on the original Amsterdam Stock Exchange . Shareholders were also explicitly granted limited liability in

9035-699: The English East India Company would come to symbolize the dazzlingly rich potential of the corporation, as well as new methods of business that could be both brutal and exploitative. On 31 December 1600, Queen Elizabeth I granted the company a 15-year monopoly on trade to and from the East Indies and Africa . By 1711, shareholders in the East India Company were earning a return on their investment of almost 150 per cent. Subsequent stock offerings demonstrated just how lucrative

9174-404: The Great Salt Lake level to drop to record low levels, and has impacted the local and state economy. The receding lake has exposed arsenic which may become airborne, exposing area residents to poisonous dust. The city is also under threat of major earthquake damage amplified by two offshoots of the nearby Wasatch Fault that join underneath the downtown area. Before settlement by members of

9313-436: The LDS Church, the Shoshone , Weber Ute, and Paiute had dwelt in the Salt Lake Valley for thousands of years. At the time of Salt Lake City's founding, the valley was within the territory of the Northwestern Shoshone . One local Shoshone tribe, the Western Goshute tribe, had names for the Jordan River , City Creek , and Red Butte Canyon (Pi'o-gwût, So'ho-gwût, and Mo'ni-wai-ni). The Goshutes (or, Gosiutes) also lived in

9452-408: The Latter-day Saints in July 1847, during the Mexican-American War . They had traveled beyond the boundaries of the United States into Mexican Territory seeking a secluded area to safely practice their religion away from the violence and the persecution they experienced in the United States . Upon arrival at the Salt Lake Valley, president of the church Brigham Young is recorded as stating, "This

9591-412: The Olympic games, but business did not pick up immediately following. On July 24, 2024, Salt Lake City was formally chosen by the International Olympic Committee (IOC) to host the 2034 Olympic Winter Games. All of the facilities from the previous Games can be re-used, and the bid enjoyed support from the IOC and the city. Salt Lake City hosted the 16th Winter Deaflympic games in 2007, taking place in

9730-499: The President of the United States to appoint a surveyor general for Utah Territory, and to cause that the lands of that territory should be surveyed preparatory to bringing them on the market. Because of numerous conflicts between the surveyor and the territorial government the first surveyor general abandoned his post in 1857, not to return till 1869. The pioneers organized a state called State of Deseret , and petitioned for its recognition in 1849. The United States Congress rebuffed

9869-424: The UK, such as fraud and corporate manslaughter . However, corporations are not considered living entities in the way that humans are. Legal scholars and others, such as Joel Bakan , have observed that a business corporation created as a "legal person" has a psychopathic personality because it is required to elevate its own interests above those of others even when this inflicts major risks and grave harms on

10008-462: The Wasatch Range. The second-highest mountain range is the Oquirrhs, reaching a maximum height of 10,620 feet (3,237 m) at Flat Top. The east–west-oriented Traverse Mountains to the south extend to 6,000' (1830m), nearly connecting the Wasatch and Oquirrh Mountains. The mountains near Salt Lake City are easily visible from the city and have sharp vertical relief caused by ancient earthquakes, with

10147-539: The act, though it was standard practice for insurance contracts to exclude action against individual members. Limited liability for insurance companies was allowed by the Companies Act 1862 . This prompted the English periodical The Economist to write in 1855 that "never, perhaps, was a change so vehemently and generally demanded, of which the importance was so much overrated." The major error of this judgment

10286-425: The bidirectional interface between corporate headquarters and business units. A headquarters normally includes the leader of a business unit and their staff, as well as all functions to manage the business unit and operational activities. The head of the business unit is responsible for overall result of the business unit. A headquarters sometimes functions at the top of a regional unit, including all activities of

10425-621: The bulb of the native sego lily , which has long been part of the ordinary diet of the Shoshone, sego being derived from the Shoshone word seego . The sego lily was commemorated by the Sego Lily Dam, a flood-prevention infrastructure project in the shape of a giant sego lily, built in Sugar House Park in 2017. The city was not platted until after the federal surveyor abandoned his post in 1857. In 1855 Congress directed

10564-408: The city has a significant LGBT community. There is also a large Pacific Islander population (mainly Samoans and Tongans ); they compose roughly 2% of the population of the Salt Lake Valley area. Salt Lake City was selected in 1995 to host the 2002 Winter Olympics. The games were plagued with controversy. A bid scandal surfaced in 1998 alleging bribes had been offered to secure the bid. During

10703-464: The city when UTA's TRAX opened in 1999. The S Line (formerly known as Sugar House Streetcar) opened for service in December 2013 on an old D&RGW right-of-way. The city's population began to stagnate during the 20th century as population growth shifted to suburban areas north and south of the city. Few of these areas were annexed to the city, while nearby towns incorporated and expanded. As

10842-411: The city. The city also has a belt route , I-215. Salt Lake City has developed a strong tourist industry based primarily on skiing , outdoor recreation , and religious tourism . It hosted the 2002 Winter Olympics and will host the 2034 Winter Olympics . It is known for its politically liberal culture, which stands in contrast with most of the rest of the state's highly conservative leanings. It

10981-613: The city. The lake effect can enhance rain from summer thunderstorms and produces lake-effect snow approximately 6 to 8 times per year, some of which can produce prodigious snowfall amounts. It is estimated about 10% of the annual precipitation in the city can be attributed to the lake effect. Salt Lake City features large variations in temperatures between seasons. During summer, there are an average of 56 days per year with temperatures of at least 90 °F (32.2 °C), 23 days of at least 95 °F (35 °C), and 9 days of 100 °F (37.8 °C). However, average daytime July humidity

11120-449: The commander, and to control the various aspects of planning and the conduct of discrete operations. A main HQ for a large formation will have a chief of staff (CoS) who coordinates the staff effort; in a smaller HQ this may be done by the second-in-command . The rear or logistic headquarters is some distance from the battle or front line in conventional operations. Its function is to ensure

11259-613: The company had become. Its first stock offering in 1713–1716 raised £418,000, its second in 1717–1722 raised £1.6 million. A similar chartered company , the South Sea Company , was established in 1711 to trade in the Spanish South American colonies, but met with less success. The South Sea Company's monopoly rights were supposedly backed by the Treaty of Utrecht , signed in 1713 as a settlement following

11398-556: The company's royal charter. In England, the government created corporations under a royal charter or an Act of Parliament with the grant of a monopoly over a specified territory. The best-known example, established in 1600, was the East India Company of London . Queen Elizabeth I granted it the exclusive right to trade with all countries to the east of the Cape of Good Hope . Some corporations at this time would act on

11537-402: The corporate model for this reason (as a trust ). State governments began to adopt more permissive corporate laws from the early 19th century, although these were all restrictive in design, often with the intention of preventing corporations from gaining too much wealth and power. New Jersey was the first state to adopt an "enabling" corporate law, with the goal of attracting more business to

11676-490: The corporate status of the entity (for example, "Incorporated" or "Inc." in the United States) or the limited liability of its members (for example, "Limited", "Ltd.", or "LLC"). These terms vary by jurisdiction and language. In some jurisdictions, they are mandatory, and in others, such as California, they are not. Their use puts everybody on constructive notice that they are dealing with an entity whose liability

11815-408: The corporation is determined by the portion of shares in the company that they own. Thus, a person who owns a quarter of the shares of a joint-stock company owns a quarter of the company, is entitled to a quarter of the profit (or at least a quarter of the profit given to shareholders as dividends) and has a quarter of the votes capable of being cast at general meetings. In another kind of corporation,

11954-408: The corporation to designate its principal address, as well as a registered agent (a person or company designated to receive legal service of process). It may also be required to designate an agent or other legal representatives of the corporation. Generally, a corporation files articles of incorporation with the government, laying out the general nature of the corporation, the amount of stock it

12093-556: The corporation, or for torts (involuntary harms) committed by the corporation against a third party (acts done by the controllers of the corporation). Where local law distinguishes corporations by their ability to issue stock , corporations allowed to do so are referred to as stock corporations ; one type of investment in the corporation is through stock, and owners of stock are referred to as stockholders or shareholders . Corporations not allowed to issue stock are referred to as non-stock corporations ; i.e. those who are considered

12232-498: The county geologist who erased the Warm Springs Fault from earthquake maps of Salt Lake City so that the downtown area appeared to be free of faults, enabling the convention center developers to avoid the time and expense of an earthquake hazard and risk assessment. The newspaper showed that the Warm Springs Fault runs north–south along W. Temple, directly adjacent to Temple Square and the convention center. A year later,

12371-422: The danger of earthquakes. Salt Lake City is subject to earthquakes from active fault lines running through it. These faults are related to the regional Wasatch Fault which runs north–south along the western base of the Wasatch Range and is considered at high risk of producing an earthquake as large as 7.5 magnitude . Catastrophic damage is predicted in the event of an earthquake with major damage resulting from

12510-497: The downtown area as of April 2021 and many new breweries and restaurants have opened in the last decade. Regent Street, which in the early 20th century was the city's red-light district , has recently been redeveloped with the notable additions of the 2,468-seat Eccles Theater and 111 Main, an adjacent 24-story office building. A distinctive feature of Salt Lake City's cityscape is its very large block sizes, which are 660 feet square and separated by streets 132 feet wide, making them

12649-513: The eastern city limits. The burgeoning population of Salt Lake City and the surrounding metropolitan area, combined with its geographical situation, has led to air quality becoming a concern. The Great Basin is subject to strong temperature inversions during the winter, which trap pollutants and decrease the air quality. The Utah Division of Air Quality monitors air quality and issues alerts for voluntary and mandatory actions when pollution exceeds federal safety standards. Protests have been held at

12788-520: The emperor. The concept of the corporation was revived in the Middle Ages with the recovery and annotation of Justinian's Corpus Juris Civilis by the glossators and their successors the commentators in the 11th–14th centuries. Particularly important in this respect were the Italian jurists Bartolus de Saxoferrato and Baldus de Ubaldis , the latter of whom connected the corporation to

12927-422: The equivalent of unissued capital, where it is not classified as an asset on the balance sheet (passive capital). Under the internal affairs doctrine , the law of the jurisdiction in which a corporation is incorporated will govern its internal activities—that is, conflicts between shareholders and managers such as the board of directors and corporate officers. If a corporation operates outside its home state, it

13066-507: The games, other scandals erupted over contested judging scores and illegal drug use. Despite the controversies, the games were heralded as a financial success, being one of the few in recent history to turn a profit. In preparation major construction projects were initiated. Local freeways were expanded and repaired, and a light rail system was constructed. Olympic venues are now used for local, national, and international sporting events and Olympic athlete training. Tourism has increased since

13205-460: The government's behalf, bringing in revenue from its exploits abroad. Subsequently, the company became increasingly integrated with English and later British military and colonial policy, just as most corporations were essentially dependent on the Royal Navy 's ability to control trade routes. Labeled by both contemporaries and historians as "the grandest society of merchants in the universe",

13344-661: The history of companies was the 1897 decision of the House of Lords in Salomon v. Salomon & Co. where the House of Lords confirmed the separate legal personality of the company, and that the liabilities of the company were separate and distinct from those of its owners. In the United States , forming a corporation usually required an act of legislation until the late 19th century. Many private firms, such as Carnegie 's steel company and Rockefeller 's Standard Oil , avoided

13483-436: The idea of the corporation as legal persons can help to clarify the role of citizens as political stakeholders , and to break down the sharp conceptual dichotomy between the state and the people or the individual, a distinction that, on his account, is "increasingly unable to meet the demands placed on the state in the modern world". Other Salt Lake City Salt Lake City , often shortened to Salt Lake or SLC ,

13622-413: The lake result in a phenomenon known as "lake stink", a scent reminiscent of foul poultry eggs, two to three times per year for a few hours. The Jordan River flows through the city and is a drainage of Utah Lake that empties into the Great Salt Lake. The highest mountaintop visible from Salt Lake City is Twin Peaks , which reaches 11,330 feet (3,450 m). Twin Peaks is southeast of Salt Lake City in

13761-650: The landmark 1856 Joint Stock Companies Act . This was subsequently consolidated with a number of other statutes in the Companies Act 1862, which remained in force for the rest of the century, up to and including the time of the decision in Salomon v A Salomon & Co Ltd . The legislation shortly gave way to a railway boom, and from then, the numbers of companies formed soared. In the later nineteenth century, depression took hold, and just as company numbers had boomed, many began to implode and fall into insolvency. Much strong academic, legislative and judicial opinion

13900-516: The largest in the United States. This and the resulting development patterns gives the city and its buildings a unique sense of scale but also a distinct challenge to urban walkability , with many streets boasting six lanes for automobile traffic. On the other hand, the extra-wide streets have made the addition of dedicated transit lanes and light rail more feasible and many streets are now being redesigned with features such as protected bike lanes, linear parks, and even spaces for urban development within

14039-425: The late 19th and early 20th centuries, an extensive streetcar system was constructed throughout the city, with the first streetcar running in 1872 and electrification of the system in 1889. As in the rest of the country, the automobile usurped the streetcar, and the last trolley was approved for conversion in 1941, yet ran until 1945, due to World War II . Trolley buses ran until 1946. Light rail transit returned to

14178-521: The law of the jurisdiction where they are chartered based on two aspects: whether they can issue stock , or whether they are formed to make a profit . Depending on the number of owners, a corporation can be classified as aggregate (the subject of this article) or sole (a legal entity consisting of a single incorporated office occupied by a single natural person ). Registered corporations have legal personality recognized by local authorities and their shares are owned by shareholders whose liability

14317-425: The legal document which established the corporation or which contains its current rules will determine the requirements for membership in the corporation. What these requirements are depends on the kind of corporation involved. In a worker cooperative , the members are people who work for the cooperative. In a credit union , the members are people who have accounts with the credit union. The day-to-day activities of

14456-532: The lives of any particular member, existing in perpetuity. The alleged oldest commercial corporation in the world, the Stora Kopparberg mining community in Falun , Sweden , obtained a charter from King Magnus Eriksson in 1347. In medieval times , traders would do business through common law constructs, such as partnerships . Whenever people acted together with a view to profit, the law deemed that

14595-574: The logistical support to front line troops, which it does by organizing the delivery of combat supplies, materiel and equipment to where they are needed, and by organizing services such as combat medicine, equipment recovery, and repair. The headquarters of the Catholic Church is Vatican City . The World Headquarters of Jehovah's Witnesses is relocated in Warwick, New York , from its former location, Brooklyn , New York. The headquarters of

14734-535: The medians. The city also encourages new projects to incorporate mid-block walkways and other scale-mitigation strategies into planning to promote pedestrian engagement. Salt Lake City has many distinct neighborhoods. There is a general east–west socioeconomic divide. The eastern neighborhoods of the city, such as the Avenues , 9th & 9th , Yalecrest , Federal Heights , and Sugar House tend to be more affluent. These districts are popular with professionals, families, and students due to their proximity to Downtown,

14873-417: The members of their boards. In Canada, this possibility is taken to its logical extreme: many smaller Canadian corporations have no names at all, merely numbers based on a registration number (for example, "12345678 Ontario Limited"), which is assigned by the provincial or territorial government where the corporation incorporates. In most countries, corporate names include a term or an abbreviation that denotes

15012-525: The menu from a high-society ball. Disputes with the federal government ensued over the church's practice of polygamy . A climax occurred in 1857 when President James Buchanan declared the area in rebellion after Brigham Young refused to step down as governor, beginning the Utah War . A division of the United States Army , commanded by Albert Sidney Johnston , later a general in the army of

15151-488: The metaphor of the body politic to describe the state . Early entities which carried on business and were the subjects of legal rights included the collegium of ancient Rome and the sreni of the Maurya Empire in ancient India. In medieval Europe, churches became incorporated, as did local governments, such as the City of London Corporation . The point was that the incorporation would survive longer than

15290-599: The nearby Utah Valley (the 1776 Dominguez-Escalante expedition were undoubtedly aware of Salt Lake Valley's existence). U.S. Army officer John C. Frémont surveyed the Great Salt Lake and the Salt Lake Valley in 1843 and 1845. The Donner Party , a group of ill-fated pioneers, had traveled through the Great Salt Lake Valley in August 1846. The settling of Salt Lake City dates to the arrival of

15429-408: The owners of a non-stock corporation are persons (or other entities) who have obtained membership in the corporation and are referred to as a member of the corporation. Corporations chartered in regions where they are distinguished by whether they are allowed to be for-profit are referred to as for-profit and not-for-profit corporations, respectively. Shareholders do not typically actively manage

15568-469: The population and foster future growth. Salt Lake City's street grid system is based on a standard compass grid plan, with the southeast corner of Temple Square (the area containing the Salt Lake Temple in downtown Salt Lake City) serving as the origin of the Salt Lake meridian . Owing to its proximity to the Great Salt Lake , the city was originally named Great Salt Lake City. In 1868, the word "Great"

15707-411: The public or on other third-parties. Such critics note that the legal mandate of the corporation to focus exclusively on corporate profits and self-interest often victimizes employees, customers, the public at large, and/or the natural resources . The political theorist David Runciman notes that corporate personhood forms a fundamental part of the modern history of the idea of the state , and believes

15846-418: The record low is −30 °F (−34 °C), which occurred on February 9, 1933. During mid-winter, strong areas of high pressure often stagnate over the Great Basin , leading to strong temperature inversions . This causes air stagnation and thick smog in the valley from several days to weeks at a time and can result in the nation's worst air-pollution levels. This same effect will also occasionally play

15985-631: The record monthly precipitation of 7.04 inches (179 mm) in September 1982. 1983 was the wettest year on record, with 24.26 inches (616 mm), while 1979 was the driest, when 8.70 inches (221 mm) were recorded. Spring snowmelt from the surrounding mountains can cause localized stream flooding during late spring and early summer, the worst examples being in 1952 and especially 1983, when City Creek burst its banks, forcing city engineers to convert several downtown streets into waterways. Snow falls on average from November 6 to April 18, producing

16124-573: The rest of the city. Smith's Plat of Zion specified the city was to be developed into 135 10-acre (4.0 ha) lots. However, the blocks in Salt Lake City became irregular during the late 19th century when the Church of Jesus Christ of Latter-day Saints lost authority over growth and before the adoption of zoning ordinances in the 1920s. The original 10-acre (4.0 ha) blocks allowed for large garden plots, and many were supplied with irrigation water from ditches that ran approximately where modern curbs and gutters would be laid. The original water supply

16263-407: The same names, a corporate name is a unique identifier only when combined with the name of the state of incorporation". This explains why lawyers in legal papers often expressly refer to a corporation's state of incorporation after the first mention of its name. Some jurisdictions do not allow the use of the word " company " alone to denote corporate status, since the word " company " may refer to

16402-431: The selling of publicly owned (or 'nationalised') services and enterprises to corporations. Deregulation (reducing the regulation of corporate activity) often accompanied privatization as part of a laissez-faire policy. A corporation is, at least in theory, owned and controlled by its members. In a joint-stock company the members are known as shareholders, and each of their shares in the ownership, control, and profits of

16541-541: The settlers in 1850 and established the Utah Territory , vastly reducing its size, and designated Fillmore as its capital city. Great Salt Lake City replaced Fillmore as the territorial capital in 1856, and the name later was shortened to Salt Lake City. The city's population continued to swell with an influx of converts to the LDS Church and Gold Rush gold seekers, making it one of the most populous cities in

16680-455: The source of the unusual width. These wide streets and grid pattern are typical of other Mormon towns of the pioneer era throughout the West. Though the nomenclature may initially confuse new arrivals and visitors, most consider the grid system an aid to navigation. Some streets have names, such as State Street, which would otherwise be known as 100 East. Other streets have honorary names, such as

16819-500: The state, and they can themselves be responsible for human rights violations. Corporations can be "dissolved" either by statutory operation, the order of the court, or voluntary action on the part of shareholders. Insolvency may result in a form of corporate failure, when creditors force the liquidation and dissolution of the corporation under court order, but it most often results in a restructuring of corporate holdings. Corporations can even be convicted of special criminal offenses in

16958-581: The state, in 1896. In 1899, Delaware followed New Jersey's lead with the enactment of an enabling corporate statute, but Delaware only became the leading corporate state after the enabling provisions of the 1896 New Jersey corporate law were repealed in 1913. The end of the 19th century saw the emergence of holding companies and corporate mergers creating larger corporations with dispersed shareholders. Countries began enacting antitrust laws to prevent anti-competitive practices and corporations were granted more legal rights and protections. The 20th century saw

17097-595: The street. A common explanation for the unusually wide streets of Salt Lake City is that Brigham Young wanted a wagon with a team of oxen to be able to turn around. However, Young was never recorded giving this directive. Joseph Smith, founder of the Latter Day Saint movement, planned the layout in the " Plat of the City of Zion " (intended as a template for Mormon towns wherever they might be built). This plan included streets 132 ft (40 m) wide, and may be

17236-543: The summer of 2007, 9th and 9th saw sidewalk and street improvements as well as an art installation by Troy Pillow of Seattle, Washington inspired by the 9 Muses of Greek myth, thanks in part to a monetary grant from Salt Lake City. Many of the homes in the valley date from pre–World War II times, and only a select few areas, such as Federal Heights and the East Bench, as well as the far west side, including parts of Rose Park and Glendale, have seen new home construction since

17375-412: The temple was dedicated on April 6, 1893. The temple has become an icon for the city and serves as its centerpiece. The southeast corner of Temple Square is the point of reference for the Salt Lake meridian , and for all addresses in the Salt Lake Valley. During the winter of 1847, an outbreak of measles killed many of the Shoshone in the area. The Shoshone saved the pioneers when they taught them to eat

17514-598: The territorial legislature passed the Act in Relation to Service and the Act for the relief of Indian Slaves and Prisoners formally legalizing slavery in the territory. On June 19, 1862, during the American Civil War , Congress prohibited slavery in all US territories. Explorer, ethnologist, and author Richard Francis Burton traveled by coach in the summer of 1860 to document life in Great Salt Lake City. He

17653-594: The valley. Many consider this some of the most desirable real estate in the valley. In addition to larger centers like Sugar House and Downtown, Salt Lake City contains several smaller neighborhoods, each named after the closest major intersection. Two examples are the 9th and 9th (at the intersection of 900 East and 900 South Streets) and 15th & 15th (at the intersection of 1500 East and 1500 South Streets) neighborhoods. These areas are home to foot-traffic friendly, amenities-based businesses such as art galleries, clothing retail, salons, restaurants and coffee shops. During

17792-541: The various business units, taking full responsibility for overall profitability and success of this regional unit. Military headquarters take many forms, depending on the size and nature of the unit or formation they command. Typically, they are split into the forward, main and rear components, both within NATO nations, and those following the organization and doctrine of the former Soviet Union (see Isby, 1988). The forward or tactical headquarters, known as "tac" for short,

17931-423: The venues in Salt Lake City and Park City , and Rotary International chose the city as the host site of their 2007 convention, which was the single largest gathering in Salt Lake City since the 2002 Winter Olympics. The U.S. Volleyball Association convention in 2005 drew 39,500 attendees. In 2020, the city experienced a 5.7 magnitude earthquake , protests against the killing of Bernardo Palacios-Carbajal , and

18070-541: The vicinity of Salt Lake and the valleys to the west. The land was treated by the United States as public domain; no aboriginal title by the Northwestern Shoshone was ever ceded or relinquished by treaty with the United States. The first explorer of European descent in the Salt Lake area was likely Jim Bridger in 1825, although others had been in Utah earlier, including some who traveled as far north as

18209-582: The way for statehood in 1896, when Salt Lake City became the state capital. The First Transcontinental Railroad was completed in 1869 at Promontory Summit on the north side of the Great Salt Lake. A railroad was connected to the city from the Transcontinental Railroad in 1870, making travel less burdensome. Mass migration of different groups followed. Ethnic Chinese (who had laid most of the Central Pacific railway) established

18348-604: The western portion of 300 South, named "Adam Galvez Street" (for a local Marine corporal killed in action) or others honoring Rosa Parks , Martin Luther King Jr. , César Chávez , Harvey Milk , and John Stockton . These honorary names appear only on street signs and cannot be used in postal addresses. In the Avenues neighborhood , north–south streets are given letters of the alphabet, and east–west streets are numbered in 2.5-acre (1.0 ha) blocks, smaller than those in

18487-520: Was dropped from the city's name. Immigration of international members of the Church of Jesus Christ of Latter-day Saints (LDS Church), mining booms , and the construction of the first transcontinental railroad brought economic growth, and the city was nicknamed "The Crossroads of the West". It was traversed by the Lincoln Highway , the first transcontinental highway, in 1913. Two major cross-country freeways, I-15 and I-80 , now intersect in

18626-528: Was from City Creek . Subsequent development of water resources was from successively more southern streams flowing from the mountains east of the city. Some old irrigation ditches are still visible in the eastern suburbs, or are still marked on maps, years after they were gone. There are still some canals that deliver water as required by water rights. Many lots, in Salt Lake City and surrounding areas, have irrigation water rights attached to them. Local water systems, in particular Salt Lake City Public Utilities, have

18765-467: Was granted unprecedented access during his three-week visit, including audiences with Brigham Young and other contemporaries of Joseph Smith. The records of his visit include sketches of early city buildings, a description of local geography and agriculture, commentary on its politics and social order, essays, speeches, and sermons from Young, Isaac Morley, George Washington Bradley and other leaders, and snippets of everyday life such as newspaper clippings and

18904-484: Was opposed to the notion that businessmen could escape accountability for their role in the failing businesses. In 1892, Germany introduced the Gesellschaft mit beschränkter Haftung with a separate legal personality and limited liability even if all the shares of the company were held by only one person. This inspired other countries to introduce corporations of this kind. The last significant development in

19043-454: Was possible only through a royal charter or a private act and was limited, owing to Parliament's jealous protection of the privileges and advantages thereby granted. As a result, many businesses came to be operated as unincorporated associations with possibly thousands of members. Any consequent litigation had to be carried out in the joint names of all the members and was almost impossibly cumbersome. Though Parliament would sometimes grant

19182-534: Was recognised by the same magazine more than 70 years later, when it claimed that, "[t]he economic historian of the future... may be inclined to assign to the nameless inventor of the principle of limited liability, as applied to trade corporations, a place of honour with Watt and Stephenson , and other pioneers of the Industrial Revolution. " These two features – a simple registration procedure and limited liability – were subsequently codified into

19321-417: Was the first speculative bubble the country had seen, but by the end of 1720, the bubble had "burst", and the share price sank from £1,000 to under £100. As bankruptcies and recriminations ricocheted through government and high society, the mood against corporations and errant directors was bitter. In the late 18th century, Stewart Kyd , the author of the first treatise on corporate law in English, defined

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