Business Daily
(The precept that shareholders are liable to the company had been introduced in the Joint Stock Companies Act 1844). Late within the 19th century, a brand new type of company having the limited legal responsibility protections of an organization, and the more favorable tax treatment of either a sole proprietorship or partnership was developed. While not a company, this new type of entity grew to become very enticing in its place for companies not needing to issue stock.
In 1892, Germany introduced the Gesellschaft mit beschränkter Haftung with a separate legal personality and limited legal responsibility even when … Read More