Landmark Cases in Corporate Law in the United Kingdom and the United States: A Comparative Analysis of Legal Evolution and Corporate Purpose
Corporate law in the United Kingdom and the United States has undergone profound development over the last two centuries. This evolution reflects shifting economic priorities, political pressures, changing capital markets and competing theories of the corporation. Landmark cases from each jurisdiction reveal how judges, legislatures and academics have shaped the very foundations of corporate personality, director duties, shareholder rights and corporate purpose. While the United Kingdom and United States share a common legal heritage, their trajectories diverge in important ways, particularly regarding the balance between shareholder wealth maximisation and broader stakeholder concerns. The modern doctrine of corporate personality in the United Kingdom is rooted in the seminal case of Salomon v A Salomon and Co Ltd (1897). The House of Lords affirmed that a duly incorporated company possesses a separate legal personality distinct from its shareholders. Scholars such as Gower argue...
