joint-stock company

[ joint-stok ]

Phonetic (Standard)IPA

noun

an association of individuals in a business enterprise with transferable shares of stock, much like a corporation except that stockholders are liable for the debts of the business.
British. an incorporated business with transferable shares and with shareholders having either limited or unlimited liability for debts of the business.

joint-stock company

a business enterprise characterized by its separate legal existence and the sharing of ownership between shareholders, whose liability is limited
a business enterprise whose owners are issued shares of transferable stock but do not enjoy limited liability

First recorded in 1800–10

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