Stockholders are commonly thought of as "owners" and "members" of corporations in Anglo-American culture, which influences the idea of "shareholder primacy" and corporate rights. This belief originated from the English East India Company, which started as a mix of a guild and a joint stock company. As it evolved into a unified business corporation, stockholders inherited the titles of "member" and "owner" from their predecessors. This historical mislabeling shaped how stockholders are viewed in Anglo-American law and business practices.