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( Routledge, 2013, 0415716179) Sayle, Murray (5 April 2001). " Japan goes Dutch". 23 (7 ). pp. 37. Murray Sayle (2001 ): "The Netherlands United East Indies Company (Verenigde Oostindische Compagnie, or VOC), established in 1602, was the world's first international, joint-stock, minimal liability corporation as well as its very first government-backed trading cartel. Our own East India Company, established in 1600, stayed a coffee-house clique until 1657, when it, too, started selling shares, not in specific trips, but in the Company itself, by which time its Dutch rival was by far the most significant business business the world had understood." Phelan, Ben (7 January 2013).