SOCI 4444 Lecture Notes - Lecture 7: East India Company, Standard Oil, Ebay
Document Summary
Corporations are recognized by law as having economic rights normally reserved for individuals. (ie. own property, make contracts, right to be represented in civil and criminal court. ) Management and staff (ceo) are not shareholders but sightn contracts and represent the corporatin for legal purposes. Original form of corporations were state(government) chartered and even had their own army. They were a part of the government. (ie british east indian company) Trading corporations orchestrated colonialism and imperialism on behalf of the states for private gain. Standard oil company in 1911, following the supreme court ruling, Standard oil was broken into seven successor companies; standard oil of new jersey, standard oil of. New york, standard oil of california, standard oil of indiana, standard oil of kentucky, the standard. Oil company (ohio), and the ohio oil company. Oligopoly is common and controlled by few. a state of limited competition, in which a market is shared by a small number of produciers or sellers.
