My article, Gregg (2020), investigates selection into the corporate form and the causal impact of incorporation in the Russian Empire through historical narrative, statistical description, fixed effects regressions, and an IV strategy. The dataset underlying the paper contains over 40,000 factory-level observations and was compiled over years of painstaking work. In his comment on my 2020 article, Nikita Lychakov disagrees with some of the coding choices in the dataset, reestimates the IV and other regressions, and speculates about potential changes in working conditions that may have influenced factory performance. While assembling a more complete picture of the effects of incorporation is a worthwhile endeavor, Lychakov’s comment is overstated and at points speculative.