Until 19th century promulgation of corporations mainly families, governments and religions could own property. The corporation allowed large groups of unrelated

Until 19th century promulgation of corporations mainly families, governments and religions could own property. The corporation allowed large groups of unrelated people to own property and pass it it on to new managers and owners. This filled the gap of having organization between the size of a small[family]business and a local government. Of course there are isolated examples of corporations before the 19th century, but they tended to be the exception until the legal system got the property rights thing down. Governments were stingy granting corporate charters or long lifetimes.