English Company Law: Incorporation :Monasteries, local government boroughs and trade guilds were the earliest examples of bodies to be incorporated by Royal Charter (prior to parliamentary democracy). Commercial Development :The 17th and 18th Centuries led to the formation of large, partnership-like structures known as joint-stock companies, so that pooled investments could be made. At this point, partnership and corporate law were fused. The Bubble Act of 1720 attempted to stop the rampant growth to joint stock companies (excessive speculation), particularly in the Dutch tulip industry. Such activity is similar to that before the dot.com collapse. Bubble Act of 1720 :An early form of securities regulation directed at ‘persons who contrive such dangerous and mischievous undertakings, under dales pretences of public good, and draw in many unwary persons to subscribe’. It sought to limit those who could raise capital through the issue of securities by requiring royal charter (merit regulation