The first company in Anatolia was established with 15 kilograms of gold

Archaeological findings and documents dating back 6,000 years, brought to light in Kültepe Kanesh-Karum Excavation Site, known as the ‘place where Anatolian history began’, provide information especially about the commercial life of the period. The tablets found at the Kültepe-Kanesh-Karum Excavation Site, supervised by the Excavation Site Director Prof. Dr. Fikri Kulakoğlu, reveal that the first company in Anatolia was established approximately 4,000 years ago by 12 people with 15 kilograms of gold.
While excavation works led by Professor Dr. Fikri Kulakoğlu continue at the Kültepe-Kanesh-Karum Excavation Site located on the Kayseri-Sivas highway with the support of the Ministry of Culture and Tourism and the Kayseri Metropolitan Municipality, the findings shed light on history. The excavation works at the Kültepe Kanesh-Karum Excavation Site, with a history of 6,000 years, have been ongoing uninterrupted for 75 years. Excavation Site Director Prof. Dr. Fikri Kulakoğlu stated that so far more than 20,000 cuneiform tablets have been found. He emphasized that most of the tablets were for commercial purposes and that all activities of that period were recorded. Kulakoğlu mentioned that the reason for finding so many tablets at Kültepe was actually trade. Every transaction related to money was recorded. Starting from what the caravan from Assyria spent on the road to their arrival here, to what was spent during their travels to other cities, everything has been recorded in writing until today. Additionally, the financial relationships between the people here were also recorded, and these were kept in the presence of witnesses. This was a very lively city, a metropolitan city 4,000 years ago. Approximately 30,000 to 50,000 people lived here. Naturally, a variety of different topics come together. Among these matters, documenting trade activities is crucial, and after documentation, one of the most striking aspects that caught our attention.
In the information obtained from the tablets, it is understood that the first company established in Anatolia was founded with a capital of 15 kilograms of gold. Professor Dr. Kulakoğlu stated that this company had 12 partners. During these transactions, financial transactions were recorded down to the smallest detail. No transaction without value was recorded. 99% of the documents here are related to money. Of course, in the content of these money-related issues, we also learn about social life in some cases. From marriage contracts, divorces, inheritances, to notarial documents, everything is included. One of the interesting ones among them is related to the establishment of companies. As it is a trading city, it is necessary to conduct trade properly and record it. Among the tablets we see, there is very interesting information about the establishment of companies. In a tablet displayed at the Kayseri Museum, it talks about a company established with approximately 15 kilograms of gold. 12 people come together, each contributing gold in different proportions to become partners in the company. This company’s capital will be operated by a merchant named Amur Ishtar for 12 years. One-third of the profit will be retained, and one-third will be shared. The procedure is determined to return the share of the capital you put into the company before the due date; instead of 1 kilogram of gold, you will be given approximately 4 kilograms of silver. If you withdraw your capital before the due date, you will incur a loss. This ensures that the capital remains in place for a long time, such as 12 years. At the end of all these topics on the tablets, a seal is affixed and signed as ‘in the presence of witnesses’. The tablets found here are dated back to the periods after the 1950s BC. This is the period when writing started in Anatolia. Naturally, the declaration of the first company in Anatolia is, in a sense, a company document. It appears here for the first time in Anatolia.