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The Rise of the Uncorporation: Chapter One

18 Pages Posted: 29 Aug 2009 Last revised: 1 Sep 2009

Larry E. Ribstein

University of Illinois College of Law (deceased); PERC - Property and Environment Research Center

Date Written: August 28, 2009

Abstract

The analysis of business associations largely has been limited to corporations. Yet unincorporated firms, including general and limited partnerships and limited liability companies, comprise about a third of the firms in the US, and even larger percentages elsewhere in the world. The Rise of the Uncorporation covers the history, law, and finance of unincorporated firms. These “uncorporations” are now the dominant business form for non-publicly-traded firms. Moreover, through private equity, hedge funds, and publicly traded partnerships, uncorporations have emerged as a significant force in the governance of a wide range of large firms. The Rise of the Uncorporation is the first general theoretical and practical overview of the alternatives to incorporation. The book seeks to bring uncorporations into popular and academic debates that have previously focused only on corporations. This book also covers the ancillary concepts connected with the evolution of these uncorporations, and analyzes likely future trends in business organization.

JEL Classification: K12, K22

Suggested Citation

Ribstein, Larry E., The Rise of the Uncorporation: Chapter One (August 28, 2009). THE RISE OF THE UNCORPORATION, Oxford University Press, 2009; U Illinois Law & Economics Research Paper No. LE09-024; Illinois Public Law Research Paper No. 09-05. Available at SSRN: https://ssrn.com/abstract=1463684

Larry Edward Ribstein (Contact Author)

University of Illinois College of Law (deceased)

PERC - Property and Environment Research Center

2048 Analysis Drive
Suite A
Bozeman, MT 59718
United States

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