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Proprietary governors had legal responsibilities over the colony as well as responsibilities to shareholders to ensure the security of their investments. The proprietary system was a mostly inefficient [definition needed] system, in that the proprietors were, for the most part, like absentee landlords.
Proprietary charters gave governing authority to the proprietor, who determined the form of government, chose the officers, and made laws subject to the advice and consent of the freemen. All colonial charters guaranteed to the colonists the vague rights and privileges of Englishmen , which would later cause trouble during the American Revolution .
A lord proprietor is a person granted a royal charter for the establishment and government of an English colony in the 17th century. The plural of the term is "lords proprietors" or "lords proprietary".
The Frame of Government of Pennsylvania was a proto-constitution for the Province of Pennsylvania, a proprietary colony granted to William Penn by Charles II of England. The Frame of Government has lasting historical importance as an important step in the development of American and world democracy .
These three types were royal colonies, proprietary colonies, and corporate colonies. A charter colony by definition is a "colony chartered to an individual, trading company, etc., by the British crown." [5] Although charter colonies were not the most prevalent of the three types of colonies in the British Empire, they were by no means ...
The owner may operate on his or her own or may employ others. The owner of the business has total and unlimited personal liability for the debts incurred by the business. This form is usually relegated to small businesses. Partnership: A partnership is a form of business in which two or more people operate for the common goal of making a profit ...
America Online CEO Stephen M. Case, left, and Time Warner CEO Gerald M. Levin listen to senators' opening statements during a hearing before the Senate Judiciary Committee on the merger of the two ...
Corporatocracy [a] or corpocracy is an economic, political and judicial system controlled or influenced by business corporations or corporate interests. [ 1 ] The concept has been used in explanations of bank bailouts , excessive pay for CEOs , and the exploitation of national treasuries, people, and natural resources . [ 2 ]