... UnincorporatedCompany137TheAppropriateLegalFramework139TheLackofLegalEntity141Continuity142Liability143Governance144LitigationUsingCommonName144StatutoryandOtherImplications145TheRoleoftheTrust147TheEvolutionoftheTrust147TheOriginsoftheTrust148TheStrictSettlementTrust149TheInvestmentTrust150TheUnincorporatedCompanyTrust152TheAssetstobeVestedintheTrust152TheTrustees’Perspective153TheBeneficiaries’Perspective156TheRoleoftheTrust:AReappraisal158TheUnincorporatedCompanyinCourtLitigation159PartnershipasaCommon-LawConception159The Obsoleteness of Common -Law AccountAction160TheRiseandLimitationsofEquityAccount162TheCrisisattheCourtofChancery163Conclusion1657TheProgressoftheJoint-StockOrganization168TheStartingPoint:Circa1740170SectoralSurvey173TextileIndustries173MetalIndustries177FoodIndustries178Utilities182Banking183OverseasTrade183Fisheries184SectorsOutsidetheRealmofCommonLaw186ShipOwnership186102 ... petitioned193 Geo II c.35 (1730).2013 Geo. II c.26 (1740); Willan, River Navigation, 67. DuBois, English BusinessCompany, 158 n. 99, believed that this act incorporated the Medway navigation, ... act that incor-porated the company, specifying the privileges of the corporate entity tomake bylaws and to purchase land.23Economic realities in the second quarter of the eighteenth centurymade...