Founded on June 3, 1621, by the Dutch Republic, receiving a charter (octrooi) that granted it a 24-year monopoly on trade and navigation in the West Indies (Americas and the west coast of Africa).19 Structured in five chambers (Amsterdam, Zeeland, Maas, Noorderkwartier, Stad en Lande) and governed by a council of 19 directors (Heeren XIX).19 Its objectives included eliminating Iberian competition and establishing Dutch colonies.19 Acted on several fronts: fur trade in New Netherland (founding New Amsterdam/New York and Fort Orange/Albany) 56; conquest and administration of parts of Brazil (1624-1654) to control sugar production 19; establishment of trading posts on the Gold Coast (Africa) for trade in gold, ivory, and, mainly, enslaved people 19; and privateering against Spanish and Portuguese ships (capture of the Spanish silver fleet by Piet Heyn in 1628).19 Was primarily responsible for the Dutch slave trade to the Americas, especially to Brazil and Curaçao (which became an entrepôt).19 Implemented the patroonship system in New Netherland, a form of semi-feudal land tenure.56 Faced financial difficulties, competition (including from other Dutch and foreign companies), conflicts with European powers, and local resistance (expulsion from Brazil).19 The first company went bankrupt and was dissolved in 1674, being replaced by a second GWC with a more restricted focus on the slave trade.19 The second company was dissolved in 1792, with its territories and debts assumed by the Dutch state.19