Bracket Theory's View on Corporations

The question asks to identify the legal theory that defines a corporation solely as a legal device or formula, suggesting that only humans have interests and rights.

Understanding Bracket Theory

Bracket Theory, also known as the Concession Theory, explains corporate personality in a specific way:

• It views a corporation not as a real entity but as a legal formula or construct.
• This theory emphasizes that the corporation is created by law (like a concession) and is distinct from its members.
• It posits that the corporation itself possesses no inherent interests or rights; these belong only to natural persons (humans).
• The corporation serves as a convenient tool or 'bracket' to manage the complex legal relationships (jural relations) among individuals involved.

Connecting Theory to the Question

The description in the question directly matches the tenets of Bracket Theory:

• "only human beings can have interests and rights" aligns with the theory's focus on natural persons.
• "a corporation is only a legal device or formula" perfectly describes the theory's conceptualization of the corporate entity.
• The purpose of simplifying "complex jural relations" is also a key aspect of this theory.

Therefore, Bracket Theory is the correct explanation for the concept described.