Incorporation and company formation in Australasia, 1790–1860

Nearly 260 companies were founded in and for the Australasian colonies between 1790 and 1860. A quantitative survey suggests that the patterns of incorporation mainly reflected ‘functionalist’ economic factors rather than ‘autonomous’ legal conditions, though the changing nature of company law did influence the various forms that incorporation took. In some sectors, outside factors and even historical accidents also pushed patterns of incorporation along distinct lines. The result was a tradition of adapting legal powers of incorporation to local needs which persisted beyond the introduction of modern company acts to the region in the 1860s and therefore shaped the subsequent evolution of the company in Australia and New Zealand