11.3 - -Characteristics o Can exist in perpetuity (forever)...

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11/8 Cullom Report (quiz) Interstate Commerce Act (1887) - Creates ICC (agency) o Regulates railroads - Amended in 1910 o Communications Act of 1934 - Creates FCC (agency Corporation - Legal entity - State legislatures were the ones who had the power to create them by granting charters o Gov’t municipalities (public) o Private sector (private) - State charters o For specific purposes o Granted to certain individuals o Restricted in size - Increased number of corps - Rise in interstate commerce - Big changes in corp. law throughout 19 th century o Industrial Revolution (new technologies) o States increased charters granted and for new purposes o States compete to grant charters o Pass statutes to allow for general incorporation Individual can self-initiate creation of corps Over time, you can create corporations to do almost anything Dramatic increase in # of corps & the types of businesses they conduct
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Unformatted text preview: -Characteristics o Can exist in perpetuity (forever) o Corps liability is restricted to corp. assets Protects personal assets Limited liability o Sell/buy shares o death limited to legal procedures Industrial Revolution-Technological Revolution o Mass production o Communicate faster Transportation Information o Network technologies Interconnected commerce Sherman Act of 1890-Designed to try to encourage competition-antitrust law comes from being against organizations of large corporations o Corps being permitted to own shares in other corps Telephony Regulation through 20 th century 1. Interstate commerce a. Agency a.i. ICA 1887 a.ii. Commerce Act of 1934 b. Antitrust Law 2. Intrastate commerce a. States (state agencies...
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This note was uploaded on 11/10/2011 for the course TEL 321 taught by Professor Cherry during the Fall '11 term at Indiana.

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11.3 - -Characteristics o Can exist in perpetuity (forever)...

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