“A mercenary company is founded by a charter between a sponsoring governing authority and the mercenary commander. Ownership of this charter represents ownership of this company, and can be passed down to successors. When the charter is burned or otherwise destroyed, the company is disbanded.”
The privilege of commanding a mercenary company is a relatively rare one. While mercenaries themselves are as common as Cygnaran Halfshield , standing companies are entities of note. The requirement for commanding a company and individual charter is itself valuable and hard to acquire. Succession is a careful matter and one must already be hardened veteran to earn the honor. Either by having the previous commander select you or by being bold enough to seize power oneself.
Still the world can be strange at times, and unlikely things happen. Such as a charter, and by extension it’s right to run a company falling into the hands of band of fresh mercenaries. As that’s exactly what happened for the PCs.
The previous leadership ran the company into the ground, accumulating debt and failures like they were the most valuable things on Caern. By the time the last commander died drowning in his own ale, it was left with no successor. Being both his personal possession and an entity which owed considerable money the charter was seized and auctioned.
Not many were too interested in buying what amounted a pile of debt and rusty armor. However for our PCs it represented a chance of a lifetime. Now the joint owners of the company, they’ll need to gather supplies, hire personnel, fulfill contracts and build a reputation.