Ius et Iustitium is happy to present this guest post by Gregory B.L. Chilson. Mr. Chilson is an LL.M. candidate at the University of Vienna.
In his examination of American patent law for Ius & Iustitium earlier this year, Jake Neu’s piece explored Adrian Vermeule’s view that the common good tradition enjoys a pedigree worthy of greater examination. Neu offered a compelling demonstration of the practical role which the classical legal tradition can and should play in contemporary jurisprudence, drawing on his chosen topic of patent law. Can the same be said of the company and corporate law as well?
Just as the patent found its role in Venetian courts, the parentage for our companies can be traced back to late medieval Italy. Although the modern company is often attributed to English and Dutch Mercantilism (and French liberalism)[1], jurists ought not overlook the extent to which English guilds were in part influenced by Italian confraternities and para-ecclesiastical bodies.[2] The term ‘guild’ itself, is well noted for its dual meaning as it is a derivative of the Germanic word ‘geld’ which first and foremost as a verb means ‘to pay’ or ‘contribute’, but also as a noun for ‘sacrifice’ or ‘worship’.[3]
Both meanings point to a common theme: pulling resources together in order to achieve common goals, both religious and secular in character, which were desired by stakeholders and at the same time benefitted the society and the state.
Continue reading “Man Is Known by the Company He Keeps: Corporate Law and the Common Good”