Jump to ContentJump to Main Navigation
Business PersonsA Legal Theory of the Firm$
Users without a subscription are not able to see the full content.

Eric W. Orts

Print publication date: 2013

Print ISBN-13: 9780199670918

Published to Oxford Scholarship Online: September 2013

DOI: 10.1093/acprof:oso/9780199670918.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 06 December 2019

The Nomenclature of Enterprise: A Taxonomy of Modern Business Firms

The Nomenclature of Enterprise: A Taxonomy of Modern Business Firms

Chapter:
(p.175) 5 The Nomenclature of Enterprise: A Taxonomy of Modern Business Firms
Source:
Business Persons
Author(s):

Eric W Orts

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199670918.003.0006

This chapter first provides a background understanding of firms as participating in “production metamarkets” that serve widespread and usually global “consumption markets.” It then presents a menu of legal forms of private firms, including corporations, partnerships, and limited liability companies, as well as state-owned enterprises. The choice of legal forms creates many variations on the traditional “black box” of the firm along the primary dimensions of agency authority and property ownership. The names used for different enterprises are described, ranging from sole proprietorships to complex relational firms. Basic principles of organizational law distinguish business firms from other kinds of social entities, including political governments and nonprofit organizations. The chapter outlines the importance of these distinctions and provides an overview of the main choices of legal forms available to business participants, entrepreneurs, and other enterprise-organizers. New hybrid social enterprises, such as benefit or “B” corporations, are covered as well.

Keywords:   production metamarkets, corporations, partnerships, limited liability companies, state-owned enterprises, sole proprietorships, complex relational firms, entrepreneurs, hybrid social enterprises, benefit corporations

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .