chartered companies

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chartered companies,

associations for foreign trade, exploration, and colonization that came into existence with the formation of the European nation states and their overseas expansion. An association received its charter from the state and sometimes had state support. In the regulated company each member was an independent trader operating with his own capital and bound only by the general rules of the company charter. In the joint stock company the organization itself transacted the business, operating on the joint capital invested by members, each of whom shared proportionately in the profits and losses. The company received a monopoly of trade or colonization in a certain region and customarily exercised lawmaking, military, and treaty-making functions, subject to the approval of the home government, besides other privileges. The English Merchants Adventurers (1359) was more of a guild organization, but it foreshadowed such companies as England's Muscovy (1555), Levant (1581), East India (1600, perhaps the greatest of them all), Hudson's Bay (1670) and Holland's Dutch East India (1602). Such colonizing companies as the Virginia Company (1606), the Massachusetts Bay Company (1629), the French Royal West Indian Company (1664–74), the Santo Domingo Company (1698), and the Dutch West India Company (1621) were more quickly taken over by their governments. Later 19th-century colonizing and trading companies, such as the British North Borneo (1881), Royal Niger (1886), British South Africa (1888), and German East Africa (1884), did not last long and had more restricted powers, but attested to the continuing significance of the chartered company. In a technical sense, the modern corporation is a chartered company.

Bibliography

See G. Cawston, The Early Chartered Companies, 1296–1858 (1896, repr. 1968); R. Robert, Chartered Companies and their Role in the Development of Overseas Trade (1969).


companies, chartered:

see chartered companieschartered companies,
associations for foreign trade, exploration, and colonization that came into existence with the formation of the European nation states and their overseas expansion. An association received its charter from the state and sometimes had state support.
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References in periodicals archive ?
The Dusun community claimed to have settled in the area since time immemorial and that they understood their position as regards the transfer of sovereignty of the State from the Brunei Sultanate to the Chartered Company.
The rubber estate had acquired land in the area from the Chartered Company without the Dusun community's knowledge.
The Chartered Company had unjustly allowed its policemen to abuse their power by deliberately encouraging native livestock to wander into the fenced areas of the rubber estates or public land, hence often resulting in the animals being impounded and heavy fines imposed upon the owners of the livestock for their release, while the policemen received a cut from the proceedings.
The Chartered Company, in failing to address the problems, had failed to protect the Dusun's rights.
Among other requests, the Dusun sought the intervention of the High Commissioner to impress upon the Chartered Company the need to redress the problem.
One of the major points of contention raised in the petition was that the Dusun had no desire to sell their lands to rubber or other plantation companies, and they considered the Chartered Company's actions in selling the land for conversion to rubber estates as unjust and high-handed.
As a result of the petition, Sir John Anderson directed the Chartered Company to allow the Dusun to seek redress through legal means.
The Chartered Company denied having mistreated the Dusun of Papar, and blamed the entire matter on agitation by the Roman Catholic Mission, of which Simon was a member.
It was obvious that the Dusun no longer had faith in the Chartered Company's method of administrating justice.
Sawrey-Cookson, the Chartered Company's Judicial Commissioner.
(36) In cases where a graveyard had been cleared by the estate, the Chartered Company forbade the estate from planting on it.
Despite the measures taken by the Chartered Company, the case finally was sent for arbitration by the Judicial Commissioner.

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