This chapter argues that a number of precursor institutions of the long-distance trade organization developed locally, independently, and endemically in many different places along the Eurasian landmass. It shows that there is often no direct and clear evidence for the endogenous origins of institutions. The chapter also discusses the endemic appearance of an institution that does not have a clear pattern of migration but, together with its relatively simple structure, supports the identification of an endogenous institution. Endogenous institutions are often organic, as is the case with the itinerant trader or the family, or simple institutions that address basic functions, such as the loan, agency, or ship. They are to be found throughout Eurasia, and there is no historical evidence of a single historical origin for any of them or of a clear route of their migration.