Joint Stock Company in United States
Practical Information
Note: Some of this information was last updated in 1982
A form of business organization created by an agreement of the parties. This agreement is commonly called articles of association. This type of company is similar to the corporation (in U.S. law) in the following respects: (1) the ownership is represented by transferable certificates; (2) management is in the hands of a board of governors or directors elected by the members (shareholders); (3) the business continues for its fixed term notwithstanding the death or disability of one or more of the members. It is unlike the corporation and like the partnership (in U.S. law) in that each shareholder is personally liable for the company’s debts.
What is Joint Stock Company?
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