What is the relationship of King James I to Shakespeare?

James I was the patron and protector of Shakespeare's acting company, the King's Men. Shakespeare's plays were performed at court on many occasions, and the company received a royal grant of £20 per year. James also wrote a book on the art of kingship, called Basilikon Doron, which Shakespeare is thought to have read. Some scholars have suggested that Shakespeare's play Macbeth was written as a way to flatter James, who was a descendant of Banquo.