It is little remembered today that while the Founding Fathers were generally big fans of private enterprise, they were not fond of corporations. Their primary experience with corporations had been the East India Company, which played a major role in the colonist's discontents over British rule. By the time of the Constitutional convention in 1787, there were only six in the country other than banks.
Thomas Jefferson was on record (albeit later in life) as hoping to "crush in its birth the aristocracy of our monied corporations." James Madison wanted the federal government to take on effective control of corporations "in cases where the public good may require them and the authority of a single state may be incompetent." In the end, his plans were defeated, and the chartering remained up to states. Originally under heavy regulations (corporations originally were chartered for one thing, could not buy one another, and could only make limited profit), loopholes developed within the next hundred years which allowed out of state incorporation, and finally corporate personhood.
But let's say the founding fathers decided to strangle incorporation in its cradle in the U.S., either officially banning incorporation, or putting severe enough strictures within the constitution that new amendments would be needed to have what is recognized as a modern-day business. What would the results be - for the U.S. and the development of worldwide global capitalism?