canada's economic development in colonial times was based on the economic policy of mercantilism. this economic idea sought to derive the maximum material benefit from the colony, for the homeland, with a minimum of imperial investment in the colony itself. the ideology was embodied in new france through the establishment under royal charter of a number of corporate trading monopolies including la compagnie des marchands, which operated from 1613 to 1621 and the compagnie de montmorency, from that date until 1627. it was in turn replaced by la compagnie des cent-associés created in 1627, by the king of france, louis xiii and the communauté des habitants in 1643. these were the first corporations to operate in what is now canada.