“In the past, the ownership of business enterprise, the only form of property with which we are here concerned, has always at least in theory, involved two attributes, first the risking of previously collected wealth in profit-seeking enterprise (past savings). But in the modern corporation, these two attributes of ownership no longer attach to the same individual or group. The stockholder has surrendered control over his wealth. He has become a supplier of capital, a risk-taker pure and simple, while ultimate responsibility and authority are exercised by directors and ‘control.’ One traditional attribute of ownership is attached to stock ownership; the other attribute is attached to corporate control. Must we not, therefore, recognize that we are no longer dealing with property in the old sense?”
— Berle and Means, The Modern Corporation and Private Property, 1937, p287
