A supermarket is a self-service shop offering a wide variety of food and household products, organized into sections and shelves. It is larger and has a wider selection than earlier grocery stores, but is smaller and more limited in the range of merchandise than a hypermarket or big-box market; the supermarket has aisles for meat, fresh produce and baked goods. Shelf space is reserved for canned and packaged goods and for various non-food items such as kitchenware, household cleaners, pharmacy products and pet supplies; some supermarkets sell other household products that are consumed such as alcohol and clothes, some sell a much wider range of non-food products: DVDs, sporting equipment, board games, seasonal items. A larger full-service supermarket combined with a department store is sometimes known as a hypermarket. Other services may include those of banks, cafés, childcare centres/creches, Mobile Phone services, photo processing, video rentals, pharmacies or petrol stations. If the eatery in a supermarket is substantial enough, the facility may be called a "grocerant", a blend of "grocery" and "restaurant".
The traditional supermarket occupies a large amount of floor space on a single level. It is situated near a residential area in order to be convenient to consumers; the basic appeal is the availability of a broad selection of goods under a single roof, at low prices. Other advantages include ease of parking and the convenience of shopping hours that extend into the evening or 24 hours of the day. Supermarkets allocate large budgets to advertising through newspapers, they present elaborate in-shop displays of products. Supermarkets are chain stores, supplied by the distribution centers of their parent companies thus increasing opportunities for economies of scale. Supermarkets offer products at low prices by using their buying power to buy goods from manufacturers at lower prices than smaller stores can, they minimise financing costs by paying for goods at least 30 days after receipt and some extract credit terms of 90 days or more from vendors. Certain products are occasionally sold as loss leaders so as to attract shoppers to their store.
Supermarkets make up for their low margins by a high volume of sales, with of higher-margin items bought by the attracted shoppers. Self-service with shopping carts or baskets reduces labor cost, many supermarket chains are attempting further reduction by shifting to self-service check-out. In the early days of retailing, products were fetched by an assistant from shelves behind the merchant's counter while customers waited in front of the counter and indicated the items they wanted. Most foods and merchandise did not come in individually wrapped consumer-sized packages, so an assistant had to measure out and wrap the precise amount desired by the consumer; this offered opportunities for social interaction: many regarded this style of shopping as "a social occasion" and would "pause for conversations with the staff or other customers." These practices were by nature slow and labor-intensive and therefore quite expensive. The number of customers who could be attended to at one time was limited by the number of staff employed in the store.
Shopping for groceries often involved trips to multiple specialty shops, such as a greengrocer, bakery and dry goods store. Milk and other items of short shelf life were delivered by a milkman; the concept of an inexpensive food market relying on large economies of scale was developed by Vincent Astor. He founded the Astor Market in 1915, investing $750,000 of his fortune into a 165' by 125' corner of 95th and Broadway, creating, in effect, an open-air mini-mall that sold meat, fruit and flowers; the expectation was that customers would come from great distances, but in the end attracting people from ten blocks away was difficult, the market folded in 1917. The concept of a self-service grocery store was developed by entrepreneur Clarence Saunders and his Piggly Wiggly stores, his first store opened in 1916. Saunders was awarded a number of patents for the ideas; the stores were a financial success and Saunders began to offer franchises. The Great Atlantic & Pacific Tea Company, established in 1859, was another successful early grocery store chain in Canada and the United States, became common in North American cities in the 1920s.
Early self-service grocery stores did not produce. Combination stores that sold perishable items were developed in the 1920s. There has been debate about the origin of the supermarket, with King Kullen and Ralphs of California having strong claims. Other contenders included Henke & Pillot. To end the debate, the Food Marketing Institute in conjunction with the Smithsonian Institution and with funding from H. J. Heinz, researched the issue, they defined the attributes of a supermarket as "self-service, separate product departments, discount pricing and volume selling."They determined that the first true supermarket in the United States was opened by a former Kroger employee, Michael J. Cullen, on 4 August 1930, inside a 6,000-square-foot former garage in Jamaica, Queens in New York City; the store, King Kullen, operated under the slogan "Pile it high. Sell it low." At the time of Cullen's death in 1936, there were seventee
Lidl Stiftung & Co. KG is a German global discount supermarket chain, based in Neckarsulm, that operates over 10,000 stores across Europe and the United States, it belongs to Dieter Schwarz, who owns the store chains Handelshof and hypermarket Kaufland. Lidl is the chief competitor of the similar German discount chain Aldi in several markets, including the United States. There are Lidl stores in every member state of the European Union, except Estonia. Lidl stores are present in Switzerland and the USA. In 1930, Josef Schwarz became a partner in Südfrüchte Großhandel Lidl & Co. a fruit wholesaler, he developed the company into a general food wholesaler. In 1977, under his son Dieter Schwarz, the Schwarz-Gruppe began to focus on discount markets, larger supermarkets, cash and carry wholesale markets, he did not want to use the name Schwarz-Markt and rather use the name of Josef Schwarz's former business partner, A. Lidl, but legal reasons prevented him from taking over the name for his discount stores.
When he discovered a newspaper article about the painter and retired schoolteacher Ludwig Lidl, he bought the rights to the name from him for 1,000 German marks. Lidl is part of the Schwarz Group, the fifth-largest retailer in the world with sales of $82.4 billion. The first Lidl discount store was opened in 1973. Schwarz rigorously removed merchandise that did not sell from the shelves, cut costs by keeping the size of the retail outlets as small as possible. By 1977, the Lidl chain comprised 33 discount stores. Lidl opened its first UK store in 1994 and grew during the first decade of the 21st century. Since Lidl has grown and today has over 650 stores. While it is still a small player in the United Kingdom, with a grocery market share of less than 5%, its importance, along with that of continental, no frills competitor Aldi is growing, with half of shoppers in the United Kingdom visiting Aldi or Lidl over Christmas 2014. Sven Seidel was appointed CEO of the company in March 2014, after the previous CEO Karl-Heinz Holland stepped down.
Holland had served as chief executive since 2008 but left due to undisclosed "unbridgeable" differences over future strategy. Seidel stepped down from his position in February 2017 after Manager Magazin reported he had fallen out of favour with Klaus Gehrig, who has headed the Schwarz Group since 2004. Seidel was succeeded as CEO by Dane Jesper Højer head of Lidl's international buying operation. In June 2015, the company announced it would establish a United States headquarters in Arlington, Virginia. Lidl has major distribution centers in Mebane, North Carolina, Spotsylvania County, Virginia; the company focused on opening locations in East Coast states, between Pennsylvania and Georgia, as far west as Ohio. In June 2017, Lidl opened its first stores in the United States in Virginia Beach and other mid-Atlantic cities; the company planned to open a total of one hundred U. S. stores by the summer of 2018. In November 2018, Lidl announced plans to acquire 27 Best Market stores in New Jersey. In 2004, Lidl was awarded the Big Brother Award in Germany for acting like a slave master towards its employees.
In 2005, Lidl was caught putting additives in meat which allowed them to avoid salmonella testing and origin labeling, according to the National Food Agency in Sweden. In 2008, it was reported that Lidl’s Czech branches had allowed female employees who were menstruating to use lavatories on condition that they wore conspicuous headbands during their periods. In 2008, German newspaper Stern uncovered Lidl spying on its staff, including registration of employees' toilet visits as well as personal details regarding employees' love lives, personal finances and menstrual cycles. In 2008, Lidl was fined €1.5 million for the unauthorised surveillance of its employees in Baden-Württemberg, Germany. In 2008, Lidl was forced to issue an official apology because staff at a Lidl store in Sweden deliberately poisoned homeless people by poisoning food in trash containers. In 2009, it was reported that 300 sheets of paper containing Lidl employees' personal information had been found in the trash bin of a car wash in Bochum, North Rhine-Westphalia, Germany.
Among the sheets were forms filled with details of the employees' sick days and illnesses. This included reproductive health. In 2010, cheese sold under Lidl’s private label Reinhardshof contained listeria; the company failed to prompt a suspension of deliveries in time. One person in Germany died of food poisoning after eating the cheese. Lidl was fined €1.5 million for violating food law. In 2010, the Consumer Protection Agency in Hamburg, Germany filed an unfair competition complaint against Lidl; the company had deceived customers by giving the false impression that the working conditions at Lidl suppliers were good. In reality, the conditions were reported "inhumane" and in breach of standards. In 2011, minced meat steaks sold under Lidl's private label Steak Country contained E. coli bacteria. 18 persons in France, predominantly children, fell ill from the steaks. Many of the children require lifetime treatment. One child was permanently disabled. In 2013, it was reported that in Germany Lidl had failed to notify health officials of numerous rat infestations.
Instead, Lidl spread powdered rat poison on the product shelves, without informing customers of the rodenticide. One of Berlin’s chief health inspectors warned that children who come in contact with rat poison may bleed to death. In 2013, Lidl sold
REWE is a supermarket chain in Germany and part of the Cologne-based REWE Group. REWE has 211,000 employees worldwide; as of 2015 they have publicised plans for investing more in their online presence. Their catchphrase is "Besser leben", their own store brand products are branded "ja!", as "REWE Beste Wahl" and as "REWE Feine Welt". The Bundesliga club 1. FC Köln is sponsored by REWE on their jerseys until the end of the 2017–18 season. Official Website of REWE
Denmark the Kingdom of Denmark, is a Nordic country and the southernmost of the Scandinavian nations. Denmark lies southwest of Sweden and south of Norway, is bordered to the south by Germany; the Kingdom of Denmark comprises two autonomous constituent countries in the North Atlantic Ocean: the Faroe Islands and Greenland. Denmark proper consists of a peninsula, an archipelago of 443 named islands, with the largest being Zealand and the North Jutlandic Island; the islands are characterised by flat, arable land and sandy coasts, low elevation and a temperate climate. Denmark has a total area of 42,924 km2, land area of 42,394 km2, the total area including Greenland and the Faroe Islands is 2,210,579 km2, a population of 5.8 million. The unified kingdom of Denmark emerged in the 10th century as a proficient seafaring nation in the struggle for control of the Baltic Sea. Denmark and Norway were ruled together under one sovereign ruler in the Kalmar Union, established in 1397 and ending with Swedish secession in 1523.
The areas of Denmark and Norway remained under the same monarch until Denmark -- Norway. Beginning in the 17th century, there were several devastating wars with the Swedish Empire, ending with large cessions of territory to Sweden. After the Napoleonic Wars, Norway was ceded to Sweden, while Denmark kept the Faroe Islands and Iceland. In the 19th century there was a surge of nationalist movements, which were defeated in the 1864 Second Schleswig War. Denmark remained neutral during World War I. In April 1940, a German invasion saw brief military skirmishes while the Danish resistance movement was active from 1943 until the German surrender in May 1945. An industrialised exporter of agricultural produce in the second half of the 19th century, Denmark introduced social and labour-market reforms in the early 20th century that created the basis for the present welfare state model with a developed mixed economy; the Constitution of Denmark was signed on 5 June 1849, ending the absolute monarchy, which had begun in 1660.
It establishes a constitutional monarchy organised as a parliamentary democracy. The government and national parliament are seated in Copenhagen, the nation's capital, largest city, main commercial centre. Denmark exercises hegemonic influence in the Danish Realm, devolving powers to handle internal affairs. Home rule was established in the Faroe Islands in 1948. Denmark negotiated certain opt-outs, it is among the founding members of NATO, the Nordic Council, the OECD, OSCE, the United Nations. Denmark is considered to be one of the most economically and developed countries in the world. Danes enjoy a high standard of living and the country ranks in some metrics of national performance, including education, health care, protection of civil liberties, democratic governance and human development; the country ranks as having the world's highest social mobility, a high level of income equality, is among the countries with the lowest perceived levels of corruption in the world, the eleventh-most developed in the world, has one of the world's highest per capita incomes, one of the world's highest personal income tax rates.
The etymology of the word Denmark, the relationship between Danes and Denmark and the unifying of Denmark as one kingdom, is a subject which attracts debate. This is centered on the prefix "Dan" and whether it refers to the Dani or a historical person Dan and the exact meaning of the -"mark" ending. Most handbooks derive the first part of the word, the name of the people, from a word meaning "flat land", related to German Tenne "threshing floor", English den "cave"; the -mark is believed to mean woodland or borderland, with probable references to the border forests in south Schleswig. The first recorded use of the word Danmark within Denmark itself is found on the two Jelling stones, which are runestones believed to have been erected by Gorm the Old and Harald Bluetooth; the larger stone of the two is popularly cited as Denmark's "baptismal certificate", though both use the word "Denmark", in the form of accusative ᛏᛅᚾᛘᛅᚢᚱᚴ tanmaurk on the large stone, genitive ᛏᛅᚾᛘᛅᚱᚴᛅᚱ "tanmarkar" on the small stone.
The inhabitants of Denmark are there called "Danes", in the accusative. The earliest archaeological findings in Denmark date back to the Eem interglacial period from 130,000–110,000 BC. Denmark has been inhabited since around 12,500 BC and agriculture has been evident since 3900 BC; the Nordic Bronze Age in Denmark was marked by burial mounds, which left an abundance of findings including lurs and the Sun Chariot. During the Pre-Roman Iron Age, native groups began migrating south, the first tribal Danes came to the country between the Pre-Roman and the Germanic Iron Age, in the Roman Iron Age; the Roman provinces maintained trade routes and relations with native tribes in Denmark, Roman coins have been found in Denmark. Evidence of strong Celtic cultural influence dates from this period in Denmark and much of North-West Europe and is among other things reflected in the finding of the Gundestrup cauldron; the tribal Danes came from the east Danish islands and Scania and spoke an early form of North Germanic.
Historians believe that before their arrival, most of Jutland and the nearest islands were settled by tribal J
SPAR DESPAR, is a Dutch multinational group that manages independently owned and operated food retail stores. It was founded in the Netherlands in 1932, by Adriaan van Well, now consists of more than 12,770 stores in 48 countries; the company's name is an acronym of the slogan "Door Eendrachtig Samenwerken Profiteren Allen Regelmatig", used by van Well to describe the brand and translates as "All benefit from joint co-operation". Its headquarters are located in Amsterdam; the company operates a partnership programme and has a presence in most European countries, as well as many others throughout Asia and Oceania. In fiscal year 2017, SPAR achieved €34.5 billion in global sales, which represented a 5.3 percent increase over 2016. The SPAR motto is "under the tree" The name was DE SPAR, an acronym of the Dutch phrase Door Eendrachtig Samenwerken Profiteren Allen Regelmatig; the acronym was chosen in order to resonate with the verb sparen, which means "save " in Dutch and some other languages, among them German and Scandinavian languages.
The acronym ended up meaning "the fir". As the organisation expanded across Europe, the name was abbreviated by dropping the DE prefix. There are some international naming variants: In Hungary, 17 stores owned by Spar located at Lukoil filling stations operate under the name Despar. In Italy, the name is still Despar, though in keeping with the international branding, the Spar section of the logo is highlighted, the larger shops are still called Eurospar and Interspar. In Austria, Despar is Spar's Italian food shop brand. Spar was founded in 1932 in the South Holland town of Zegwaart. In 1953 an International Spar office opened in Amsterdam to control and further develop the organisation throughout Europe and other continents. Many Spar shops are in Europe, but they can be found in a number of countries outside of Europe, such as Oman, Saudi Arabia, United Arab Emirates, Nigeria, South Africa, Namibia, Zambia, Mozambique, Australia, China, Japan, Vanuatu and Angola. A Spar shop may be owned independently, by a franchisee, or be part of a chain, depending on the model applied in any given country.
The owners of the parent company vary from country to country and may include the shop owners themselves. The name and the current logo was most revised in 1968 by Raymond Loewy and has remained unchanged since. In the United Kingdom Spar has become known as a convenience shop. In Ireland the Spar brand is known for neighbourhood shops and the subformat Eurospar acting as mini-supermarkets. Spar opened in the Republic of Vanuatu on 1 December 2009. Since 1996, the company has been a major sponsor of the European Athletic Association and its events. In 1997, Spar was introduced to most United Kingdom military bases by the Navy and Air Force Institutes, where it sells a variety of civilian and military products; the Dutch Spar is a member of Superunie, an inventory purchasing organization for a number of otherwise unaffiliated supermarket brands. In July 2014 Spar Group South Africa opened its first supermarket in Angola but no expansion of the brand is planned for this market. In August 2014 the group acquired 80% of the BWG Group, which had outlets in Ireland and southwest England.
In 2015 Ahold bought all Czech shops and converted them into Albert super- and hypermarkets, however it had to get rid of some shops in order not to have a monopoly. The first SPAR shop in Oman was inaugurated in January 2015 in Muscat. Spar Oman plans to open more shops in the coming months as part of its expansion plans in Oman. Spar opened its first store in Qatar in 2017, with the second store opening in 2018. A further two stores are planned for 2018. In 2017 Ceylon Biscuits Limited in Sri Lanka acquired a license to operate Spar brand in Sri Lanka as Spar Lanka; this is a joint venture of Ceylon Biscuits Limited and SPAR Group Ltd South Africa.. They opened the first store in Colombo; the future plan is to open 50 outlets in the country by 2023. In most, but not all countries, SPAR operates shops of different sub-brands. SPAR Express, SPAR Neighbourhood, EUROSPAR and INTERSPAR. EuroSPAR/SuperSPARThe Eurospar name is used in Superspar in South Africa; these are mid-sized supermarkets. They are designed to fit in a niche between traditional supermarkets.
InterSPARThese are hypermarkets and compete directly against major international chains such as Real and Tesco. Spar Express This is the smallest type of shop, they are designed for small sites and filling station forecourts and train stations. They are called Kwikspar in South Africa. Spar Drive-ThruThere was a drive-through Spar on the Cliftonville Road in Northern Ireland; this has now been converted to a Centra shop, retained the drive-through for a while afterhand, but now no longer has one. Spar GourmetSome small Spar shops in Austria are called Spar Gourmet, since the Austrian Spar Group took over the supermarket chains Julius Meinl in 2000; the standard range is extended to global delicacies. Media related to SPAR at Wikimedia Commons Official website SPAR International - Annual Report 2017 SPAR International - Annual Report 2014
YouTube is an American video-sharing website headquartered in San Bruno, California. Three former PayPal employees—Chad Hurley, Steve Chen, Jawed Karim—created the service in February 2005. Google bought the site in November 2006 for US$1.65 billion. YouTube allows users to upload, rate, add to playlists, comment on videos, subscribe to other users, it offers a wide variety of corporate media videos. Available content includes video clips, TV show clips, music videos and documentary films, audio recordings, movie trailers, live streams, other content such as video blogging, short original videos, educational videos. Most of the content on YouTube is uploaded by individuals, but media corporations including CBS, the BBC, Hulu offer some of their material via YouTube as part of the YouTube partnership program. Unregistered users can only watch videos on the site, while registered users are permitted to upload an unlimited number of videos and add comments to videos. Videos deemed inappropriate are available only to registered users affirming themselves to be at least 18 years old.
YouTube and its creators earn advertising revenue from Google AdSense, a program which targets ads according to site content and audience. The vast majority of its videos are free to view, but there are exceptions, including subscription-based premium channels, film rentals, as well as YouTube Music and YouTube Premium, subscription services offering premium and ad-free music streaming, ad-free access to all content, including exclusive content commissioned from notable personalities; as of February 2017, there were more than 400 hours of content uploaded to YouTube each minute, one billion hours of content being watched on YouTube every day. As of August 2018, the website is ranked as the second-most popular site in the world, according to Alexa Internet. YouTube has faced criticism over aspects of its operations, including its handling of copyrighted content contained within uploaded videos, its recommendation algorithms perpetuating videos that promote conspiracy theories and falsehoods, hosting videos ostensibly targeting children but containing violent and/or sexually suggestive content involving popular characters, videos of minors attracting pedophilic activities in their comment sections, fluctuating policies on the types of content, eligible to be monetized with advertising.
YouTube was founded by Chad Hurley, Steve Chen, Jawed Karim, who were all early employees of PayPal. Hurley had studied design at Indiana University of Pennsylvania, Chen and Karim studied computer science together at the University of Illinois at Urbana–Champaign. According to a story, repeated in the media and Chen developed the idea for YouTube during the early months of 2005, after they had experienced difficulty sharing videos, shot at a dinner party at Chen's apartment in San Francisco. Karim did not attend the party and denied that it had occurred, but Chen commented that the idea that YouTube was founded after a dinner party "was very strengthened by marketing ideas around creating a story, digestible". Karim said the inspiration for YouTube first came from Janet Jackson's role in the 2004 Super Bowl incident, when her breast was exposed during her performance, from the 2004 Indian Ocean tsunami. Karim could not find video clips of either event online, which led to the idea of a video sharing site.
Hurley and Chen said that the original idea for YouTube was a video version of an online dating service, had been influenced by the website Hot or Not. Difficulty in finding enough dating videos led to a change of plans, with the site's founders deciding to accept uploads of any type of video. YouTube began as a venture capital-funded technology startup from an $11.5 million investment by Sequoia Capital and an $8 million investment from Artis Capital Management between November 2005 and April 2006. YouTube's early headquarters were situated above a pizzeria and Japanese restaurant in San Mateo, California; the domain name www.youtube.com was activated on February 14, 2005, the website was developed over the subsequent months. The first YouTube video, titled Me at the zoo, shows co-founder Jawed Karim at the San Diego Zoo; the video was uploaded on April 23, 2005, can still be viewed on the site. YouTube offered the public a beta test of the site in May 2005; the first video to reach one million views was a Nike advertisement featuring Ronaldinho in November 2005.
Following a $3.5 million investment from Sequoia Capital in November, the site launched on December 15, 2005, by which time the site was receiving 8 million views a day. The site grew and, in July 2006, the company announced that more than 65,000 new videos were being uploaded every day, that the site was receiving 100 million video views per day. According to data published by market research company comScore, YouTube is the dominant provider of online video in the United States, with a market share of around 43% and more than 14 billion views of videos in May 2010. In May 2011, 48 hours of new videos were uploaded to the site every minute, which increased to 60 hours every minute in January 2012, 100 hours every minute in May 2013, 300 hours every minute in November 2014, 400 hours every minute in February 2017; as of January 2012, the site had 800 million unique users a month. It is estimated that in 2007 YouTube consumed as much bandwidth as the entire Internet in 2000. According to third-party web analytics providers and SimilarWeb, YouTube is the second-most visited website in the world, as of December 2016.
A corporation is an organization a group of people or a company, authorized to act as a single entity and recognized as such in law. Early incorporated entities were established by charter. Most jurisdictions now allow the creation of new corporations through registration. Corporations come in many different types but are divided by the law of the jurisdiction where they are chartered into two kinds: by whether they can issue stock or not, or by whether they are formed to make a profit or not. Corporations can be divided by the number of owners: corporation corporation sole; the subject of this article is a corporation aggregate. A corporation sole is a legal entity consisting of a single incorporated office, occupied by a single natural person. Where local law distinguishes corporations by the ability to issue stock, corporations allowed to do so are referred to as "stock corporations", ownership of the corporation is through stock, owners of stock are referred to as "stockholders" or "shareholders".
Corporations not allowed to issue stock are referred to as "non-stock" corporations. Corporations chartered in regions where they are distinguished by whether they are allowed to be for profit or not are referred to as "for profit" and "not-for-profit" corporations, respectively. There is some overlap between stock/non-stock and for-profit/not-for-profit in that not-for-profit corporations are always non-stock as well. A for-profit corporation is always a stock corporation, but some for-profit corporations may choose to be non-stock. To simplify the explanation, whenever "Stockholder" or "shareholder" is used in the rest of this article to refer to a stock corporation, it is presumed to mean the same as "member" for a non-profit corporation or for a profit, non-stock corporation. Registered corporations have legal personality and their shares are owned by shareholders whose liability is limited to their investment. Shareholders do not actively manage a corporation. In most circumstances, a shareholder may serve as a director or officer of a corporation.
In American English, the word corporation is most used to describe large business corporations. In British English and in the Commonwealth countries, the term company is more used to describe the same sort of entity while the word corporation encompasses all incorporated entities. In American English, the word company can include entities such as partnerships that would not be referred to as companies in British English as they are not a separate legal entity. Late in the 19th century, a new form of company having the limited liability protections of a corporation, the more favorable tax treatment of either a sole proprietorship or partnership was developed. While not a corporation, this new type of entity became attractive as an alternative for corporations not needing to issue stock. In Germany, the organization was referred to as Gesellschaft mit beschränkter Haftung or GmbH. In the last quarter of the 20th Century this new form of non-corporate organization became available in the United States and other countries, was known as the limited liability company or LLC.
Since the GmbH and LLC forms of organization are technically not corporations, they will not be discussed in this article. The word "corporation" derives from corpus, the Latin word for body, or a "body of people". By the time of Justinian, Roman law recognized a range of corporate entities under the names universitas, corpus or collegium; these included the state itself and such private associations as sponsors of a religious cult, burial clubs, political groups, guilds of craftsmen or traders. Such bodies had the right to own property and make contracts, to receive gifts and legacies, to sue and be sued, and, in general, to perform legal acts through representatives. Private associations were granted designated liberties by the emperor. Entities which carried on business and were the subjects of legal rights were found in ancient Rome, the Maurya Empire in ancient India. In medieval Europe, churches became incorporated, as did local governments, such as the Pope and the City of London Corporation.
The point was that the incorporation would survive longer than the lives of any particular member, existing in perpetuity. The alleged oldest commercial corporation in the world, the Stora Kopparberg mining community in Falun, obtained a charter from King Magnus Eriksson in 1347. In medieval times, traders would do business through common law constructs, such as partnerships. Whenever people acted together with a view to profit, the law deemed. Early guilds and livery companies were often involved in the regulation of competition between traders. Dutch and English chartered companies, such as the Dutch East India Company and the Hudson's Bay Company, were created to lead the colonial ventures of European nations in the 17th century. Acting under a charter sanctioned by the Dutch government, the Dutch East India Company defeated Portuguese forces and established itself in the Moluccan Islands in order to profit from the European demand for spices. Investors in the VOC were issued paper certificates as proof of share ownership, were able to trade their shares on the original Amsterdam