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joint-stock company

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joint-stock company

  [joint-stok]
Use joint-stock company in a Sentence
–noun
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.
Origin:
1800–10
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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joint-stock company   (joint'stŏk')
n.  A business whose capital is held in transferable shares of stock by its joint owners.
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Financial Dictionary

joint-stock company

A rare type of business organization characterized by some features of a partnership and some features of a corporation. Shares are transferrable and the company is assessed taxes according to corporate tax rates. However, the liability of each owner is unlimited. Joint-stock companies are established primarily because of the ease with which they are formed.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary

Main Entry: joint–stock company
see COMPANY
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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Encyclopedia

joint-stock company

a forerunner of the modern corporation that was organized for undertakings requiring large amounts of capital; money was raised by selling shares to investors, who became partners in the venture. One of the earliest joint-stock companies was the Virginia Company, founded in 1606 to colonize North America. By law, individual shareholders were not responsible for actions undertaken by the company, and, in terms of risk exposure, shareholders could lose only the amount of their initial investment. See also corporation.

Learn more about joint-stock company with a free trial on Britannica.com.

Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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