The evolution of business goes through several stages: The early stage, when the company was formed; the initial public offering; the series of private offerings made by the venture capital; the syndication of the IPO; and finally, the formation of an S and C in a corporation. All these stages gave birth to hundreds of thousands of companies all over the world. There are also many changes in business rules and procedures which need to be taken into consideration. These legal issues can be easily solved with the help of a good attorney.
The evolution of business also took place at a national level: First, the national economy evolved out of the local stage, first, from a local economy to a national one: 1, by a local exchange program, 2, by the centralization of credit and money, and 3, by a centralization of banking. Then, the national economy entered the series of international exchange programs. These resulted in the establishment of the Bretton Woods system. The international system of economic law established the principles of a stabilized currency, fair trade practices, and protection of the workers of the country. The Bretton Woods system has been used in different parts of the world, including Europe, Japan, and the United States. Today, it is considered as a major force in the international economy.
Secondly, the national business evolved from a series of localized production units to a nationalized industrial system. In this stage, there were industrial revolution, a drastic development of the quality of goods and services, and a massive accumulation of wealth. This process became possible because of the technological advances during this stage, such as the discovery of the railways, textile industry, gunpowder, and other useful discoveries. At the same time, a massive development of the means of communication took place. In fact, during this stage, the world economy came under the global form of interaction.
Thirdly, the evolution of commerce started to affect every aspect of life. It became possible to store the wealth and capital of individuals and to distribute them according to their needs. In addition, it provided employment for millions of people and stimulated the economy by providing cheap labor and raw materials. In the present stage people started producing large scale products, such as computers, cars, and airplanes, using machines.
Lastly, when the global economy became a key player in the global business, the state emerged as the main player. State aid, through the creation of national banks and central banks, supported the evolution of the global economy. State intervention started the process of the globalization of the economy, by making the local businesses competitive on a European and American scale.
There are several stages that characterize the evolution of international business. First, there was the creation of national banks and central banks, which supported the evolution of the international business. The second stage came when these institutions began to control the flow of money from one country to another. Finally, the third stage, which is considered the current stage, made the international business more localized, by making it more self-sufficient. The four stages of evolution of international business can be seen as an outline of how the international business works today.