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November 1, 2007

November 1, 2007 - The English East India Company(EIC...

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The English East India Company (EIC) Introduction o New kind of company established in new modern era Chartered company Businesses that received trade monopolies from their governments In return, these companies helped their nations find new resources Helped colonize new territory o EIC was at the heart of commercial and entrepreneurial activity o Faced competition from the Portuguese, Dutch and the French o Successful in linking Britain and Asia Laid foundation for British Empire in the East o Despite the EIC’s power, it was still dependent on the British state for the renewal of its royal charter o Early multinational A company that operates in several countries Offices/factories in several nations and a head office coordinating the company’s operations Today, seen as extremely powerful due to Wealth Political influence Seen as engaging in activities that benefit only themselves and their home countries Establishment and Organization o 1600, Queen Elizabeth I, granted a Royal Charter local merchants “The Governor and Company of Merchants of London Trading into the East Indies” Included more than 200 members Trade monopoly between Britain and the East At first, granted the charter for 15 years Allowed the company to use a joint-stock form
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