“…Our argument builds on new revisionist historiography, which critiques earlier views of company-states as either purely commercial operations, or simply dependent appendages of their home states, instead stressing their autonomous and hybrid character (Cavanagh, 2011;Clulow, 2014;Clulow and Mostert, 2018;Pettigrew, 2015;Pettigrew and Verveers, 2019;Stern, 2011Stern, , 2015Wagner, 2018;Ward, 2008;Weststeijn, 2014;Wilson, 2015). Thus, Stern notes that previously the company-states have "suffered historiographical marginalization by virtue of scholarly assumption about what companies do and do not do: states are for politics, companies are for profits " (2006: 702).…”