The joint - The joint-stock company and the founding of...

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Unformatted text preview: The joint-stock company and the founding of Jamestown. In 1606, Elizabeth's successor, James I, issued charters to the Virginia Company of Plymouth and the Virginia Company of London to establish colonies along the Atlantic coast from modern-day North Carolina to Maine. These were joint-stock companies, the forerunner of the modern corporation. Individuals bought stock in the companies, which paid for ships and supplies, hoping to realize a profit from their investment. The Virginia Company of Plymouth founded a colony at Sagadahoc in Maine in 1607, which quickly failed due to hostility from the local tribes, conflicts among the settlers, and inadequate supplies. The same fate almost befell the London Company's effort at Jamestown near Chesapeake Bay in Virginia. Most of the colonists were gentry unaccustomed to manual labor who wanted to spend their Virginia....
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This note was uploaded on 11/19/2011 for the course HIST 1310 taught by Professor Marshall during the Fall '08 term at Texas State.

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