East India Company: The Royal Charter Of 1600

Proceeding the defeat of the Spanish Armada in 1588, the English people took an initiative to sail the Indian Ocean. British merchants grouped together and signed a petition in order to receive permission from Elizabeth I to sail these waters. Though, their wishes were granted, the first few explorations on the Indian Oceans were, ultimately, a failure. For example, three ships sailed out to sea in 1596 in search of new trade routes near the Malay Peninsula, but the adventure ended in a catastrophe. All three of the ships were lost, and were never to be seen again. Though, their initial attempts were unsuccessful, these merchants were determined to establish a stronghold on the overseas trading network. After reconvening with Elizabeth I again, a royal charter was granted, which gave the newly formed company a monopoly on trade with all other countries east of the Cape of Good Hope. The Royal Charter of 1600 ensured that

The company first operated as each voyage was considered a separate venture as in the traditional sense of capitalism. In 1612, the company adapted a temporary joint stock approach until 1657 where a permanent joint stock approach was utilized.
The early structure of the British East India Company consisted of 24 directors, who were a part of the Court of Directors, which had ten committees reporting to them. This court then reported to a small group known as The Court of Proprietors who oversaw the company’s innerworkings. This effective hierarchical structure enabled the The British East India Company to function as a privately held joint stock company, which was created to promote trade with the East Indies. The original intention (exploration for trade) was abandoned as the