1. Chapter 19 Section 2

2. Corporations
A business owned by investors who buy a part of a company through shares of stock
3 Advantages of a corporation
It sells stock – so they can raise large amounts of $$ for investment
It has a special status – meaning it exists after the founders die
Risks are limited – investors don’t have to pay off corporation’s debts
Because of the Business Boom of the late 1800s, many business leaders became wealthy and powerful.

3. Andrew Carnegie Came to America as a poor immigrant
Took advantage of low steel prices following Bessemer innovation
Bought out competitors
Vertical integration (in your own words)

4. John Rockefeller Founded Standard Oil Company
Used Vertical along with Horizontal Integration (define)
Formed Trusts
Legal framework whereby many companies in one industry are controlled by a single person or group