Question

The Virginia Company of London sponsored many settlers to the New World. In 1609, the Virginia Company of London became a ________________ company, and could no longer sell shares of the Jamestown settlement to the public.

a) Bipartisan
b) Limited Liability
c) Non-Profit
d) Joint-Stock

Answer 1

In 1609, the Virginia Company of London became a joint-stock company and ceased selling shares to the public, enabling the pooling of investments with limited liability for the colonization of the New World.

Step-by-step explanation:

The Virginia Company of London, which played a significant role in the early colonization of North America, transformed its business model by 1609. Initially, the company was a joint-stock company, which allowed it to raise capital for the establishment of the Jamestown settlement by selling shares.

However, by 1609, it became a joint-stock company with a structure that could no longer offer shares to the public. This type of business model was crucial as it enabled the pooling of resources from investors who were only liable for the amount they invested, creating an appealing opportunity for England's growing merchant class seeking to fund colonial efforts in the New World.