April 26, 2015
The Corporation As Invention That Changed The World
Posted by David Zaring

Friend of the Conglomerate Larry Cunningham points to Popular Science's September roundup of 100 inventions that changed the world, only one of which is a legal innovation: the corporation (link not available - ask your librarian!).  It's a strong contender; indeed, I can't really think of another legal fiction with such significance, though patents probably come close, and I guess I wonder if an agency is a legal fiction.  But you can have your constructive trusts, trade secrets, and asset-backed securities!  Readers are invited to provide their own suggestions for similarly consequential legal inventions in the comments.

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