In 1830, Governor Levi Lincoln, Jr., called the Massachusetts legislature to introduce a limited liability regime for corporations like in neighboring states. At least since 1809, the shareholders in the production of the public corporation faced with unlimited liability, which held the shareholders personally liable for corporate debts. While unlimited liability was to ensure financial prudence, Lincoln and others are concerned that this policy does more harm than good, and driving capital of the state. With the governor insists on action, it was up to the state legislature to decide how to proceed. "Hide
by David Moss, Eugene Kintgen Source: HBS 18 pages. Publication Date: December 20, 2007. Prod. #: 708016-PDF-ENG
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