New Netherland Company (Dutch: Nieuw-Nederland Compagnie) was a chartered company of Dutch merchants. Following Henry Hudson's exploration of the east coast of North America on behalf of the Dutch East India Company in 1609, several Dutch merchants sent ships to trade with the Native Americans (mainly fur) and to search for the Northwest Passage. In order to maximize their profits these merchants decided to form the New Netherland Company and on October 11, 1614 they successfully petitioned the Estates-General for a charter of trading privileges. The charter granted a monopoly of trade between the 40th and 45th parallel for a period of three years, starting on January 1, 1615. In 1618 the Company's charter wasn't renewed because negotiations for the formation of the Dutch West India Compan