In the annals of corporate history, you'll find that before ~1875, "corporations" were intrinsically intertwined with their sponsoring governments. Viz British

In the annals of corporate history, you'll find that before ~1875, "corporations" were intrinsically intertwined with their sponsoring governments. Viz British / Dutch East India Companies, Hudson's Bay Company Early American corporations were no different, and required the legislature's consent for establishment. Consequently, Carnegie Steel and Standard Oil were both formed as an alternative... a trust... to avoid being beholden to government power.