Prior to the development of international law among European nations, there was no legal recourse for minor grievances. Privateering was a form of covert operation used to resolve these matters without open warfare. The government of a country provided a letter of marque and reprisal to a shipowner that allowed him to arm his ship and attack other ships sailing under a particular flag. In return he received a share of the seized cargo, while the rest went to the government as payment for the grievance.
To the target country, a privateer looked very much like a pirate, and indeed this was the intention. The only difference was that pirates were considered outlaws by all nations, while privateers had immunity from the country that commissioned them. Privateers were sometimes known as "gentleman pirates."
We understand the importance of private investment towards the development of a marketeconomy in our country and encourage you to take advantage of some of the opportunities found here.
It is noteworthy that, in accordance with Article 5.2 of the "Law of the Republic of Armenia on the Privatization of State Property", equal investment opportunities are afforded to both foreign and Armenian physical and/or legal entities.
The Department of State Property Management under the Government of the Republic of Armenia is responsible for all privatization activity within Armenia and intends to use this Web Site as a major component of its information dissemination role.
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