The United East Indian Company (Dutch: Vereenigde Oost-Indische Compagnie; VOC), referred to by the British as the Dutch East India Company, was originally established as a chartered company in 1602, when the Dutch government granted it a 21-year monopoly on Dutch spice trade. It is often considered to have been the first multinational corporation in the world and it was the first company to issue stock. It was a powerful company, possessing quasi-governmental powers, including the ability to wage war, imprison and execute convicts, negotiate treaties, strike its own coins, and establish colonies.