Dutch East India Company

The Dutch East India Company (Vereenigde Oost-Indische Compagnie or VOC in old-spelling Dutch, literally "United East Indian Company") was established in 1602, when the States-General of the Netherlands granted it a 21-year monopoly to carry out colonial activities in Asia. It was the first multinational corporation in the world and the first company to issue stock. It was also arguably, the world's first megacorporation, possessing quasi-governmental powers, including the ability to wage war, negotiate treaties, coin money, and establish colonies.

It remained an important trading concern for almost two centuries, paying an 18% annual dividend for almost 200 years, until it became bankrupt and was formally dissolved in 1800,[3] its possessions and the debt being taken over by the government of the Batavian Republic. The VOC's territories became the Dutch East Indies and were expanded over the course of the 19th century to include the whole of the Indonesian archipelago, and in the twentieth century would form Indonesia.

During the 16th century the spice trade was dominated by the Portuguese who used Lisbon as a staple port. Before the Dutch Revolt Antwerp had played an important role as a distribution center in northern Europe, but after 1591 the Portuguese used an international syndicate of the German Fuggers and Welsers, and Spanish and Italian firms that used Hamburg as its northern staple, to distribute their Asian goods, thereby cutting out Dutch merchants.

At the same time, the Portuguese trade system was so inefficient that it was unable to supply growing demand, in particular the demand for pepper. The demand for spices was relatively inelastic, and the lagging supply of pepper therefore caused a sharp rise in pepper prices at the time.

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