What were the groups of merchants that banded together for safer travel and began forming corporations called?

Merchant guilds were organizations formed by groups of merchants seeking to promote their mutual interests, primarily for safer travel and trade practices. During the medieval period, these guilds provided a structured way for merchants to protect their economic interests through collective bargaining, share resources, and establish regulations governing trade. By banding together, merchants could navigate the dangers of travel more securely, whether it be facing highway robbers or dealing with issues such as quality control and fair pricing.

These guilds were instrumental in the development of trade in towns and cities, serving as precursors to modern corporations by allowing merchants to pool resources, share risks, and create a more stable trading environment. The establishment of merchant guilds also allowed for the regulation of commerce, which contributed to economic growth in Europe during the Middle Ages.

In contrast, trade unions typically focus on labor issues and the rights of workers rather than on merchant interests. Cartels often involve agreements between producers to control market prices and limit competition, which is a different context than the cooperative nature of merchant guilds. Cooperatives generally emphasize collective ownership and operation for mutual benefit in various industries rather than a focus specifically on trade and merchant activities.