In the later days of the Roman Republic the word corporation was used in documents in the same sense as collegium. The term referred to a form of legal association consisting of at least three persons. The collegium was also described as a body –corpus habere. The corporation possessed the legal right to hold property in common. It shared a treasury and could sue or be sued. The property of the corporation was liable to be seized and sold for its debts.
The Roman concept of corporation was adopted by the early Christian churches as a legal form of protection in periods of persecution. It was mostly used as a legal means of holding and transferring the churches’ property. Corporations were later used by varied religious monastic orders. In the Middle Ages life was largely corporate, in the sense that religious institutions were defined by corporations of monks and friars. It was considered a secure way of protecting ecclesiastical property especially in times of feudal warfare. These corporations in the course of history survived and prospered.
The concept was improved with the introduction of “corporation sole” by English law, where a sole or single religious office holder could transfer the same position with identical powers to his successor. Read More