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Colonial expansion policy and transformations in stock corporation law under German imperialism

  • Legal Theory & Practice Review
  • Abbr : LTPR
  • 2023, 11(4), pp.147-177
  • Publisher : The Korea Society for Legal Theory and Practice Inc.
  • Research Area : Social Science > Law
  • Received : September 19, 2023
  • Accepted : November 25, 2023
  • Published : November 30, 2023

Ji Gwangwoon 1

1군산대학교

Accredited

ABSTRACT

The Imperial period refers to the period from 1870 to the end of World War I. During this period, the Western powers sought to develop new markets and advance bases necessary for securing resources through colonial expansion. Germany was no exception and colonized East Africa. At this time, Germany enacted the Colonial Protection Act and turned the colonies into protected areas. Through these reservations, the German Empire focused on protecting its citizens who wanted to advance into the colonies and conduct commercial activities. From the same aspect, support for companies that entered the colonies in the form of companies and engaged in commercial activities was also considered through the provisions on companies under the Colonial Protection Act related to companies. The periodic changes of German stock law related to joint-stock companies, which were mainly used in relation to colonial expansion during the imperial era, were examined, and the main contents were reviewed. Furthermore, through a review of the changes in the Stock Act, which obliged directors to conduct management in consideration of the interests of their employees, the company, and the country through the provisions of Article 70 of the Stock Act during the Nazi era, the importance of companies emphasized both in the era of imperialism and in the modern era is revealed. This study tried to infer the meaning of modern corporate law. Conclusionally, the meaning of the colonial expansion policy and the change of the stock law in the era of German imperialism is, first of all, the justification of colonization through rule by law. Next, the modern meaning of the change of the stock law is that the era has arrived in which directors are required to place importance on management in consideration of stakeholders when managing a company. Regarding both of the above, the justification of colonial rule and for whom the company exists, it can be seen that the legislator's decision was important in the era of imperialism. What this historical fact means is that even if history repeats itself, the legitimacy of the era of imperialism should not be repeated in the form of excessive restrictions on basic rights in the modern age.

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