1554, Britain established the first franchise company "Moscow Company" to conduct overseas trade in the form of shares, and its establishment marked the emergence of a real share system. In the year when the company was founded, it made an adventure, sailed in the White Sea, discovered new areas and islands, and went deep into the Russian mainland. Initially, the capital of the whole company was divided into 240 shares, each of which was 25 gold pounds, and each person contributed a part, and six people shared the risk. At the beginning, it was stipulated that the company's business was limited to one time, and every time it returned from a long voyage, all profits were distributed according to shares. And returned together with the share capital. Later, with the expansion of the frequency and scale of trade activities, all or part of the original shares stayed in the company for the next voyage. By 1604, the company's shareholders were increased to 160, and 15 directors managed all the business. Later, there were Spanish company established by 1557, eastland company established by 1579, Levant company established by158/kloc-0, Guinean company established by 1588, and East India company established by 1600. These trading companies were established in the form of joint-stock system, which was a tool for Britain to expand its colonial power overseas. Among them, the East India Company has the greatest influence and the most abundant capital: at the beginning of its establishment, its share capital was 68,000 pounds, with 198 shareholders; By 65438+0627, the share capital reached 65438+06200, with 954 shareholders. It monopolized the trade from the Cape of Good Hope to all countries in the East and enjoyed complete military and political power over the colonies. By the end of 1680, 49 such companies had been established in Britain, which played an important role in promoting the development of national commodity economy and enhancing economic strength. Other European countries have followed suit. For example, the Netherlands set up the East India United Company in 1602, the West India Company in 162 1, and stock trading companies in France, Germany, Sweden and other countries.