A royal charter from King Charles II incorporated “The Governor and Company of Adventurers of England, trading into Hudson’s Bay” on 2 May 1670.[6] The charter granted the company a monopoly over the region drained by all rivers and streams flowing into Hudson Bay in northern parts of present-day Canada.
They had some prominent backers as the article explains, but regardless of that the fact remains that HBC was created by a state with the clear goal to establish a another client state through it (hence the monopoly rights). Britain’s rivalries with France probably also played a role as France was the dominant colonial power in that area at the time.
Except that they were literally given a monopoly and funding by the British monarchy:
And the HBC did nothing to induce the state to act in such a way?
They had some prominent backers as the article explains, but regardless of that the fact remains that HBC was created by a state with the clear goal to establish a another client state through it (hence the monopoly rights). Britain’s rivalries with France probably also played a role as France was the dominant colonial power in that area at the time.