This monopoly caused jealousy among merchants who did not subscribe to it and in 1635 King Charles I granted a trading license to Sir William Courteen under the name of the Courteen association permitting it also to trade with the east at any location in which the East India Company had no presence.
[1] Courteen's fellow promoters included Endymion Porter, groom of the King's bedchamber and Sir Francis Windebank, his Secretary of State.
[2] The company had a troubled beginning, it was badly managed, lost ships at sea and suffered a collapse in 1636, after which Courteen fled to the continent where he died.
[1] During the English civil war the Crown gave its support to the Courteen association and badly treated the East India merchants, causing them to generally support Parliament.
[1] The enmity between the two trading organisations continued until a settlement was ordered by Oliver Cromwell as Lord Protector and the two merged in 1657.