9. Creation of a Parallel Corporate State
The East India Company operated as a sovereign entity, exercising powers typically reserved for nation-states. It minted its own currency, enacted laws, and negotiated treaties independently. For instance, in 1669, the Company was granted control over Bombay, including full dominion and sovereignty over the port and island. This autonomy allowed the Company to function as a parallel corporate state, wielding authority over vast territories without direct oversight from the British government (history.com).
