However, examination of the legal literature reveals that an alternative ‘real entity theory’ dominated debates from roughly 1900 to 1930. See generally id. C.J.S. 9 UK Athletic Association Auditorium at William T. Young Library. 827, 827 (2005) (raising this question in context of partnerships, close corporations, and limited liability companies). ' Sebelius v. Hobby Lobby Stores, Inc. 1 is shaping up to be the blockbuster case of the Supreme Court’s October 2013 Term. The article reviews the origins and explanation of contractual nature of the company by dominant theory of economic analysis of corporate law, i.e. Instead, it is treated as a collection of partners, with all partners individually reporting their respective shares of income and deductions. The Aggregate Utility Theory of the Corporation: Who Is Causing the Harm? Catherine Hardee’s research and teaching interests are in the fields of business law and torts. corporations are real, naturally occurring beings with characteristics not present in their human members. Entity versus Aggregate Theories of Partnership Taxation Following is an excerpt from an article, Section 1374 and the S Corporation Partner, by Nellen and Karlinsky, published in the Fall 1992 Journal of S Corporation Taxation. concession theory, which views the corporation as fundamentally a creature of the state and thus presumptively subject to broad state regulation. An apolitical analysis of what is happening in U.S. politics through the lens of Aggregation Theory… Finally, the aggregate theory underplays the role of the state in the creation of the corporation by focusing on the individuals who organize, operate, and own the corporation and the relationships among them. The FANG companies — Facebook, Amazon, Netflix, and Google — are far more similar than you might think. INTRODUCTION The Debate Over Hostile Takeovers Over the past decade, the pace of hostile takeover activity has accelerated sharply. Introduction. contractual theory of the corporation. (reviewing briefly aspects of debate, recognizing current entity view, and discussing current legal issues that raise entity-aggregate dichotomy in partnership The aggregate theory clearly acknowledges legal corporate existence; however, it challenges the conferring of an ontological status to corporations. [Cases: Partnership 63. The article provides some examples of where both the entity and aggregate theories are applied. Partnership § 68.] Cf. Thus, the real entity theory dif-fers sharply from the familiar aggregate theory of the firm, according to which a corporation is the sum of its human constituents and noth-ing more.' Aggregate Prism, 40 WAKE FOREST L. REV. Real Entity Theory. The theory that a partnership does not have a separate legal existence (as does a corporation), but rather is only the totality of the partners who make it up. AGGREGATE THEORY OF PARTNERSHIP aggregate theory of partnership. 6. KEYWORDS: Hostile Takeovers, Aggregate Theory, Corporation. Their rise in value is no accident, and it is connected to Aggregation Theory. ENTITY THEORY OF PART-NERSHIP. The Voters Decide. These views, the aggregate theory and entity theory, are intertwined throughout Subchapter K. Under the aggregate theory, the partnership is not viewed as a taxpaying entity. 7 . ‘Aggregate theory’, popular in the second half of the nineteenth century, is a variant of fiction theory that holds that corporations are simply aggregates of natural persons, usually shareholders. I believe this is an important project because (1) of the three traditional theories of the corporation under constitutional law (concession theory, 7. real entity theory, 8. and aggregate theory. 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