Ancient Romans Invented the Concept of Corporations

The Romans developed sophisticated business organizations called 'societates publicanorum' around 150 BC that functioned remarkably like modern corporations. These entities had shareholders ('participes'), professional managers, limited liability for investors, and even traded shares in public markets. They were used to collect taxes, build infrastructure, and manage public contracts across the empire. The largest, like the Asian tax-farming company, had thousands of shareholders and operated across multiple provinces. They had boards of directors, issued dividends, and shareholders could buy and sell their stakes. These proto-corporations were so advanced that when they disappeared during the empire's decline, Europe wouldn't see anything similar until the Dutch East India Company in 1602. The Romans essentially invented corporate capitalism 1,000 years ahead of their time.