Famous British trading companies were the forerunners of the modern corporation and primarily sought corporate status because the government granted them:

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The famous British trading companies-such as the Massachusetts Bay Company-were the forerunners of the modern corporation.The British government gave these companies monopolies in trade and granted them powers to govern in the areas they colonized.They were permitted to operate as corporations because of the benefits they would confer on the British empire,such as the development of natural resources.Although these trading companies were among the few corporations of the time whose owners were granted limited liability,they sought corporate status primarily because the government granted them monopolies and governmental powers.

Famous British Trading Companies Were the Forerunners of the Modern