Upon discovery of the Albany area by Henry Hudson in 1609, the Dutch claimed the area and set up two forts to anchor it: Fort Nassau in 1614 and Fort Orange in 1624, both named for the Dutch noble House of Orange-Nassau. This established a Dutch presence in the area, formally called New Netherland. In June 1620, the Dutch West India Company was established by the States-General and given enormous powers in the New World. In the name of the States-General, it had the authority to make contracts and alliances with princes and natives, build forts, administer justice, appoint and discharge governors, soldiers, and public officers, and promote trade in New Netherland.