What was the British East India Company?

what was the British east india company and why was it created? what was one positive or negative effect it had on its society. i have to teach my kids this tomorow and im seeming to forget some info.What was the British East India Company?
It was a quasi-governmental multinational corporation that slowly took over most of India. One positive: Enlightened European values meant far less of the type of brutality and inhumanity that was typical of the life of the peasant in the Mughal Empire, or in one of the independent principalities. One negative: It was a for-profit venture, so it wasn't always exactly seeking what was best for most Indians.What was the British East India Company?
It is a company promoted to look after the British empire interests in India.one positive effect is that it brought unity among Indians.Negative effect is that they lost control all over India due to lack of over sight and very bad behavior towards general public.