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"Corporation, noun: An ingenious device for obtaining individual profit without individual responsibility. "
— Ambrose Bierce

Michael A.Lechter. (2005) OPM : Other People's Money. How to attract Other People's Money for your investment-the ultimate leverage. Warner Bussiness Books : New York.

=> VOC (Dutch East India Company)

The Dutch East India Company (Dutch: Vereenigde Oost-Indische Compagnie, VOC, "United East India Company") was a chartered 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 have been the first multinational corporation in the world [2] and it was the first company to issue stock.[3] It was also arguably the first megacorporation, possessing quasi-governmental powers, including the ability to wage war, imprison and execute convicts,[4] negotiate treaties, coin money, and establish colonies.[5]

=> VOC Formation

At the time, it was customary for a company to be set up only for the duration of a single voyage, and to be liquidated upon the return of the fleet. Investment in these expeditions was a very high-risk venture, not only because of the usual dangers of piracy, disease and shipwreck, but also because the interplay of inelastic demand and relatively elastic supply[14] of spices could make prices tumble at just the wrong moment, thereby ruining prospects of profitability. To manage such risk the forming of a cartel to control supply would seem logical. The English had been the first to adopt this approach, by bundling their resources into a monopoly enterprise, the English East India Company in 1600, thereby threatening their Dutch competitors with ruin.[15]

=> VOC Shareholders

The VOC had two types of shareholders: the participanten, who could be seen as non-managing partners, and the 76 bewindhebbers (later reduced to 60) who acted as managing partners. This was the usual set-up for Dutch joint-stock companies at the time. The innovation in the case of the VOC was, that the liability of not just the participanten, but also of the bewindhebbers was limited to the paid-in capital (usually, bewindhebbers had unlimited liability). The VOC therefore was a limited-liability company. Also, the capital would be permanent during the lifetime of the company. As a consequence, investors that wished to liquidate their interest in the interim could only do this by selling their share to others on the Amsterdam Stock Exchange.[44]
The VOC consisted of six Chambers (Kamers) in port cities: Amsterdam, Delft, Rotterdam, Enkhuizen, Middelburg and Hoorn. Delegates of these chambers convened as the Heeren XVII (the Lords Seventeen). They were selected from the bewindhebber-class of shareholders.[45]
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Hetalia, England aph, Spain aph, Egypt aph, Italy aph, Macau aph & Netherlands aph belonged to Himaruya H.
Spice Islands is Maluku Islands in Indonesia.
Indonesia aph, Malaysia aph & Portugal aph based on Himaruya's sketch. ([link])
India OC & Mughal OC design by dinosaurusgede
Philippines OC design by
Brunei Darussalam OC design by
Japan 17th century design by