The Dutch East India Company was the first European that challenged the Portuguese domination of Asian trade. Different from Spanish and Portuguese traders, the Dutch expeditions were not controlled by the government, they had full sovereign powers. Because of that they had an enormous amount of power, they set up colonies and trading posts around the world, they captured Malacca from the Portuguese rule and opened trade with China.
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Answer:
Around 1670, King Charles II of England gave the British East India Company rights to run their territories in India as they saw fit. He gave them the power to mint money, command fortresses and troops, form alliances, make war and peace, and to enforce laws in the areas they controlled.
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