Corporations were an important addition to the industrial free-market system because they had access to large amounts of funding.
Corporations has played an important, if not controversial, role in the economic, political, and cultural identity of the United States. Easy access to capital and business development provided by corporate structure was the driving force behind the American Industrial Revolution of the 1820s. The United States became the world's greatest innovator and one of the great economic powers of the "golden age", the second half of the 19th century was nicknamed. Business development was hit hard in the early 20th century with the introduction of antitrust laws, but it quickly bounced back. The structure of
Corporation has changed in its more than 200-year history. Part of this development is due to a new understanding of successful corporate governance models over time. Other changes may be due to the imposition of government regulations, as well as savy shareholder requirements and foreign competition. The academic impact of business theory and the role of responsible governance also play an important role in business development.
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