[joint-stok] 
| 1. | 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. |
| 2. | British. an incorporated business with transferable shares and with shareholders having either limited or unlimited liability for debts of the business. |
Joint Stock Company
An organization that falls between the definitions of a partnership and corporation. This type of company issues stock and allows for secondary market trading however, stockholders are liable for company debts.
Investopedia Commentary
This is a type of company that has access to the liquidity and financial reserves of stock markets, but also has the restrictions of a partnership.
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See also: Corporation, Liquidity, Partnership, Secondary Market, Shareholder, Stock
joint-stock company