This is ahistorical. These are institutions that largely exist to settle disputes between the rich and to punish the poor, and came into existence to balance the interests of debtor royals with those of the rich commoners who held that debt.

Corporations were a way to formalize public-private partnerships in which the sovereign would be able to shed the risks of beneficial ventures in its interest, by in exchange shielding private groups taking on those ventures from the normal legal consequences of their actions.