Dutch East India Company

Dutch East India Company (Vereenigde Oostindische Compagnie, or VOC) was a charter company established in 1602, when the States General of the Netherlands granted it a 21-year monopoly to carry out colonial activities in Asia. It is often considered to be the world's first true multinational corporation and it was the first company to issue stock. It was also arguably the first megacorporation, possessing quasi-governmental powers, including the ability to wage war, negotiate treaties, coin money, and establish colonies.

History

The VOC was created to protect and expand the Dutch trade in the Indian Ocean and was granted authority to build forts, maintain armies, and conclude treaties with Asian rulers. It rapidly became the chief Western power in Asia, establishing a network of trading posts and colonies around the Indian Ocean rim.

Organization

The VOC was governed by a Heeren XVII (Lords Seventeen) who were appointed by the States-General. The chief executive officers were the Governors-General, who had their headquarters in Batavia (now Jakarta).

Impact

The VOC's economic activity in the Indonesian Archipelago has left a significant legacy. Cities such as Jakarta, Galle, Colombo, Tharangambadi, Pondicherry, Chennai, Machilipatnam, Hooghly-Chinsura, and Cochin owe their origin or revival to the VOC's economic activities.

Decline and Legacy

The VOC went bankrupt in 1800 following financial mismanagement, corruption, and a changing international economic climate. The company's possessions were nationalised by the Dutch government and became the Dutch East Indies, which later became modern Indonesia.

See also

• History of the Netherlands
• Dutch colonization of the Americas
• Dutch West India Company
• Jan Pieterszoon Coen
• Batavia (ship)