Bell Telephone Company companies and to provide further funds for expansion of its overall telephone infrastructure. On April 17, 1880, National Bell was split into the American Bell Telephone Company, led by Theodore Vail as general manager, and with the International Bell Telephone Company (IBTC) as a holding company for its international subsidiaries. IBTC's first non-North American subsidiary was the Bell Telephone Manufacturing Company (BTM), established by Hubbard at Antwerp, Belgium, in 1882. The Bell System's Bell Telephone Company of Canada subsidiary, wholly owned by the National Bell, had been established two years earlier. Alexander Graham Bell's ten shares of Bell Telephone Company
Bell Telephone Company enter into an agreement with Bell); and finally by Alexander Graham Bell. Hubbard later registered some of his shares with two other family members. An approximate 10% interest of the patent association was later assigned by its principals to Bell's technical assistant Thomas Watson, in lieu of salary and for his earlier financial support to Bell while they worked together creating their first functional telephones. The verbal patent association agreement was formalized in a memorandum of agreement on February 27, 1875. The patent association's assets became the foundational assets of the Bell Telephone Company. At the time of the organization