24 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

Ancient golden neck ring found in Denmark

24 April 2022

24 April 2022

A one-of-a-kind golden neck ring from the Germanic Iron Age (400-550 A.D.) has been discovered in a field not far...

1500-year-old Stunning Pendant Amulet Depicting the Prophet Solomon Spearing the Devil on Horseback Found in Türkiye

15 November 2024

15 November 2024

During the excavations in the ancient city of Hadrianopolis in Eskipazar district of Karabük, Türkiye, an amulet from the 5th...

1,800 years old Sewer system found in ancient city of Mastaura

17 May 2022

17 May 2022

Archaeologists found an 1800-year-old sewer system during excavations in the ancient city of Mastaura, in the Nazilli district of Aydın...

Archaeologists uncovered a ‘golden tomb’ during excavations in Armenia

26 March 2023

26 March 2023

A team of archaeologists made up of Polish and Armenian scientists has discovered a “golden tomb” containing two skeletons in...

Egypt’s Tanis bronze figurines shed light on ancient commerce

19 July 2021

19 July 2021

A research team told that the newly discovered 3,000-year-old bronze figurines recently unearthed in Tanis, Egypt, can answer questions about...

Serbian Archaeologists Unearth Roman Triumphal Arch Dedicated to Emperor Caracalla

24 January 2024

24 January 2024

Archaeologists in Serbia have unearthed an ancient Roman triumphal arch dating back to the third century at Viminacium, a Roman...

New Study Reveals the Contribution of Female Scribes in Medieval Manuscript Production

2 April 2025

2 April 2025

A recent study sheds light on the often-overlooked contributions of women in the production of handwritten manuscripts during the Middle...

A Unique Structure Discovered in the City of David Ancient Jerusalem – The Only One of Its Kind

14 January 2025

14 January 2025

A unique structure was discovered on the eastern slope of the City of David, within the Walls of the Jerusalem...

Unique Gold Ring and Crystal Amulet among 30,000 Medieval Treasures Uncovered in Sweden

7 March 2024

7 March 2024

In the Swedish medieval city of Kalmar, archaeologists from the State Historical Museums unearthed the remains of over 30,000 objects...

Beheaded croc reveals ancient family secrets

10 March 2022

10 March 2022

A missing link in crocodilian evolution and a tragic tale of human-driven extinction. The partially fossilized remains of a giant...

Tomb of a Roman doctor buried with unique surgical tools unearthed in Hungary

28 April 2023

28 April 2023

Hungarian archaeologists discovered the tomb of a Roman doctor 1st-century man buried with high-quality surgical tools near the city of...

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...

New study: Human brains preserve in diverse environments for at least 12 000 years

21 March 2024

21 March 2024

A study by forensic anthropologist Alexandra Morton-Hayward and her team from the University of Oxford has shown that the human...

Works on Brussels metro line uncovered remains of the second city wall

18 April 2023

18 April 2023

Construction work on the new metro line 3 in Brussels, the Belgian capital, has revealed part of the second rampart...

The Colchester Vase: New Analyses Uncover Evidence of Gladiatorial Combat in Roman Britannia

23 February 2025

23 February 2025

The Colchester Vase, dating back to A.D. 160–200, is not just a ceramic artifact; it is considered a unique graphic...