Using a New Legal Form: the GmbH, 1892-1939

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• Tim Guinnane (Yale University)
• Thursday 06 November 2025, 17:15-18:45
• Lightfoot Room - St John's College.

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Germany introduced the GmbH (Gesellschaft mit beschränkter Haftung, or Company with Limited Liability) in 1892. It is now the most common enterprise form in Germany and has been widely influential elsewhere. The government intended the GmbH for limited uses where neither the partnership nor the rigid German corporation suited. Adoption remained modest until the early 20th century, when the number of GmbHs took off. The GmbH’s unexpected popularity provoked a backlash among lawyers and business leaders, who seriously discussed abolishing the form or adding rules that would have made it unattractive. Much opposition reflected unease with limited liability for small business enterprises.

This talk is part of the Core Seminar in Economic and Social History series.

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