3 April 2025 The Future is the Product of the Past

Anatolia’s first company was founded 4000 years ago with 15 kilos of gold!

A 4,000-year-old tablet found in Kültepe shows that the first company in Anatolia was established by 12 people with 15 kilograms of gold.

The excavations carried out in Kültepe Kaniş-Karum Ruins on the Kayseri-Sivas highway shed light on the commercial past of Anatolia.

In the initial years of the 2nd millennium, the Assyrians founded multiple trading settlements in Anatolia.   In archaeological terminology, the period of the Assyrian colonies, covering the first two centuries or so of the second millennium, is commonly known as the Middle Bronze Age. During this period, the Assyrians were very active in international trading and commercial ventures. The focal point of the merchant operations was the city of Nesa or Kanesh (Kültepe, also known as Kanesh or Nesha).

Kültepe is considered one of the oldest trade centers of Anatolia and has a history of 6 thousand years. Excavations have been going on continuously for 75 years and more than 20 thousand cuneiform tablets have been found so far. These tablets reveal the commercial activities of the period in detail.

Kültepe Excavation Head Professor Fikri Kulakoğlu said that the first company in Anatolia was founded 4 thousand years ago by 12 people with 15 kilos of gold.

Photo: Kayseri Provincial Directorate of Culture and Tourism
Photo: Kayseri Provincial Directorate of Culture and Tourism

Prof. Dr. Kulakoğlu states that most of the tablets in Kültepe were for commercial purposes and all kinds of financial transactions were recorded. Many details ranging from the expenditures of caravans to credit and debit relations are included in these tablets. This shows that Kültepe was a very active and large trade center at that time.

Prof. Dr. Kulakoğlu stated that the information obtained from the tablets revealed that the first company established in Anatolia was established with a capital of 15 kilograms of gold and that this company had 12 partners. Each partner became a shareholder of the company by giving gold in different proportions. The capital of the company was managed by a merchant named Amur Ishtar for 12 years and one third of the profit was shared. All transactions related to the company were sealed and recorded in the presence of witnesses.

Kulakoğlu said, “If you want to withdraw your share of the company’s capital before the due date, you will be given about 4 kilos of silver instead of 1 kilo of gold. If you withdraw your capital before its due date, you are making a loss. In other words, it is guaranteed that the capital will remain in place for a long period of 12 years.”

According to a 4,000-year-old clay tablet exhibited in the Kayseri Museum, the first company in Anatolia was founded by 12 people with a capital of 15 kilograms of gold. Photo: İHA
According to a 4,000-year-old clay tablet exhibited in the Kayseri Museum, the first company in Anatolia was founded by 12 people with a capital of 15 kilograms of gold. Photo: İHA

“The tablets found here are dated to the period after the 1950s BC. This is the period when writing first started in Anatolia. Naturally, it is the first declaration of the first company in Anatolia, in a sense, a company deed. It appears here for the first time in Anatolia,” he said.

Clay tablets do not only contain commercial information. Many social life details such as marriage contracts, divorces, inheritance documents, and notary procedures are also included in these tablets. This shows that Kültepe is a great source for us to understand the social and economic life of the period.

İHA

Cover Photo: İHA

Related Articles

Archaeologists in Derbyshire have unearthed a 9th century Anglo Saxon house

15 July 2021

15 July 2021

A nearly complete Anglo-Saxon house, considered to date from the early ninth century and might have been the abode of...

The Oldest Known Map of Europe, “Saint-Bélec Slab”

6 April 2021

6 April 2021

An ornate Bronze Age stone slab (Saint-Bélec slab) that was excavated in France in 1900 and forgotten about for over...

Deadly Omens Revealed from 4,000-year-old Babylonian Tablets

10 August 2024

10 August 2024

Researchers successfully deciphered 4,000-year-old cuneiform tablets discovered over a century ago in what is now Iraq.  The tablets, housed at...

Magnificent Discovery: A Major Tomb Filled with Gold and Ceramic Artifacts was Discovered in Panama

3 March 2024

3 March 2024

In an archaeological find in the El Caño Archaeological Park, located in the district of Natá, province of Coclé, in...

Dozens of unique bronze ornaments discovered in a drained peat bog in Poland

28 January 2023

28 January 2023

Numerous bronze ornaments have been discovered in Poland’s Chełmno region (Kuyavian-Pomeranian Voivodeship). Archaeologists report that dozens of bronze ornaments, including...

500-year-old Ottoman bath revived after years of restoration

5 April 2024

5 April 2024

The 500-year-old Zeyrek Çinili Hammam, a masterpiece of Mimar Sinan and one of the most important examples of Ottoman Bath...

Archaeologists discover one of the largest Phallus Relief Carving of ancient Rome

28 August 2022

28 August 2022

According to an announcement by the region’s local history museum, a large Roman-era relief carving of a phallus has been...

Part of lost star catalog of Hipparchus found hidden in Medieval parchment

22 October 2022

22 October 2022

Hipparchus’ fabled star catalog, which had been thought to be lost, was discovered concealed in a medieval parchment that had...

Spectacular gold find from early medieval tombs in Basel

28 November 2022

28 November 2022

An excavation in Basel’s Kleinbasel neighborhood, Switzerland, has uncovered 15 graves, some richly furnished, from an early medieval burial ground....

Glacier archaeologists find a 1300-year-old arrow in melting ice

20 August 2022

20 August 2022

The Glacier archaeologists found a 1300-year-old arrow from the Norwegian Iron Age during a research project on the Langfonne ice...

In the 1,900-year-old underground temple of Mithras religion in Zerzevan Castle, an area where participants of secret rituals stayed was unearthed

23 July 2024

23 July 2024

Excavations at the  Zerzevan Castle in Diyarbakır province in the southeastern part of Türkiye have uncovered an area where participants...

High-status Macedonian tomb discovered in ancient Aegae, Central Macedonia

2 April 2024

2 April 2024

In the ancient city of Aegae (present-day Vergina) in Imathia, Central Macedonia, during the construction of the sewerage network, tomb...

Puzzling rings may be finger loops from prehistoric weapon systems

24 May 2023

24 May 2023

When many researchers looked at an astonishing group of artifacts discovered at French archaeological sites, they presumed they were ornaments...

The place where John the Baptist was martyred

4 February 2022

4 February 2022

The infamous birthday banquet of Herod Antipas, which culminated in the beheading of St John the Baptist — a preacher...

Giant handaxe discovered at Ice Age site in Kent, UK

8 July 2023

8 July 2023

Researchers in Kent in southeastern England have discovered a prehistoric handaxe so big it would have been almost impossible to...