The need to regulate commerce and commerce and resolve business disputes helped shape the creation of legislation and courts. The Code of Hammurabi dates back to about 1772 BC for example and accommodates provisions that relate, amongst different issues, to transport costs and dealings between merchants and brokers. The word “company” derives from the Latin corpus, that means physique, and the Maurya Empire in Iron-Age India accorded authorized rights to business entities. Having a business name doesn’t separate the business entity from the owner, which signifies that the proprietor of the business is responsible and liable for debts incurred by …
