East Indian Company (EIC)
It all began on Dec. 31, 1600, when Queen Elizabeth I granted a charter to the British East India Corporation, naming the corporation "The Governor and Company of Merchants of London, trading with the East Indies." The corporation conducted business in the East Indies at the behest of the queen. The founder of (EIC) East India Company was Sir James Lancaster. Sir James Lancaster was a merchant who commanded the first English vessel to reach the East Indies. Sir James Lancaster established the first English trading post in Southeast Asia. Trade took place in the 17th-19th-century .
Received a royal charter from Queen Elizabeth in order to allow the trade and voyage . Pirates Stole Ships .
A ship that had the most treasure and was worth up to $50,000 to $60,000 got stolen . Owned Shares of the company by wealthy merchants and aristocrats . Aristocrats is a form of government in which power is in the hands of a small, privileged, ruling class. Merchants is a business person who trades in commodities produced by others, in order to earn a profit. The East India Company (EIC), originally chartered as the Governor and Company of Merchants of London trading into the East Indies, and more properly called the Honourable East India Company, was an English and later (from 1707) British joint-stock company formed for pursuing trade with the East Indies but which ended up trading mainly with the Indian subcontinent, North-West Frontier Province and Balochistan. Commonly associated with trade in basic commodities, which included cotton, silk, indigo dye, salt, saltpetre, tea and opium, the Company received a Royal Charter from Queen Elizabeth in 1600, making it the oldest among several similarly formed European East India Companies. Shares of the company were owned by wealthy merchants and aristocrats. The government owned no shares and had only indirect control. The Company eventually came to rule large areas of India with its...
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