Nonsense. A corporation is nothing more than a group of people who agree to work together to accomplish a mutual task and share the profits out. Pirate ships of the old Spanish Main were corporations.
Did pirates enjoy limited liability, then? ;)
Wrong. You're talking about a proprietorship (sole or joint). In that business arangement, the owners have total liability for everything that happens under their business. Which is they way it should be in most cases.
A corporation is totally different since it grants "limited liability" to those that control the company. There is a big, big difference.
Pirate ships of the old Spanish Main were corporations.
So was the East India Tea company. Remember what the Sons of Liberty did to their product in Boston Harbor?
The founders were not only revolting against Britain, but also the multinational corporations that oppressed them with the assistance of the crown.