The position, office, or role of being a factor (a merchant agent); the status or authority held by someone conducting factor business.
From 'factor' plus '-ship' (office, position, or state of being). A historical commercial term following the pattern of words like 'leadership' and 'partnership'.
Achieving factorship in the colonial era was like becoming a CEO today—it was a path to immense wealth and social power. Many factors became wealthier than the noblemen who theoretically outranked them.
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