| Holding company |
A holding company holds stock of another company. Although it does not produce goods or services itself, it can be helpful, for example, for legal or tax reasons.
Algernon Sydney Sullivan of Sullivan & Cromwell developed the concept. The Money Trust helped persuade the state of New Jersey[Who?] to allow under its state law, which provided flexibility in negotiating antitrust laws.
- Harnessing the Growth of Corporate Capitalism: Sullivan & Cromwell and its influence on late Nineteenth-century American business,” by Jason Weixelbaum; paper posted December 25, 2010
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