The genius of the Chartered Joint Stock Company was that it "locked in" financial capital that was the key resource required to create "going concern" value. Since the 1600s industry and technology have evolved dramatically. It is argued that financial capital in the modern world is a commodity resource cheaply and widely available. The modern problem is how to "lock in" the other essential resources, such as human capital, intellectual property capital and the value chain relationships with suppliers, required for the modern firm to maintain "going concern" value. How can this new "lock in" be achieved? Can this new "lock in" be as effective as the lock in of financial capital?
In the area of Corporate Governance, is the structure of the Governance Form or the Ethos of the corporation the more important factor for successful control? Can industries adequately regulate and control themselves or does competition among firms require that the Government must be the only regulator?