by The Self-Governing Corporate Bodies of Ancient Indian Commerce
This nomination for the organizers and elders of the ancient Indian Shreni, the sophisticated and autonomous guilds that formed the corporate backbone of economic life for over a millennium. Described in the Arthashastra of Kautilya, Shreni were legally recognized entities with rights akin to corporate law: they could own property, enter into contracts, sue and be sued, and had perpetual succession. They organized entire industriesweavers, potters, metalworkers, bankersenforcing quality standards, setting prices, training apprentices, and maintaining their own courts for internal dispute resolution. This system of self-regulation fostered stability, trust, and specialization. Shreni often operated as complex partnerships, pooling capital for large projects. They provided a model of economic organization that balanced competition with cooperation, and private enterprise with collective responsibility. Their endurance and power demonstrated that advanced commerce can thrive under a decentralized model of professional self-governance, where the state sets the broad legal framework but delegates regulatory authority to the expert practitioners themselves. The Shreni proved that corporate entities and self-regulation are not modern inventions, but ancient solutions to the problems of scale, quality, and trust in a complex marketplace.
