Joint-Stock colonies were founded when a group of investors received a grant of land or charter from the King to establish a colony where the investors would divide the profits from the tobacco and other products extracted from the colony. ... Proprietary colonies were usually granted by the King to an individual to start a colony and the individual collected rent from the colonists. ... By the beginnings of the 18th century all the colonies had converted to Royal authority due primarily to mismanagement and or poor administration....

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