1. In the UK: The original (17th century) name for a corporation in which the liability of the owners is limited to the nominal value of the stock (shares) held by them.
2. In the US: Corporation with unlimited liability for the shareholders. Investors in a US joint stock company receive stock (shares) which can be transferred, and can elect a board of directors, but are jointly-and-severally liable for company's debts and obligations. A US joint stock company cannot hold title to a real property.
Use 'joint stock company' in a Sentence
My four siblings and I decided to start a real estate investment company, we plan on running it as a joint stock company so we'll all be responsible for any debts and financing equally as well as equally share in profits
Sometimes people will invest in a joint stock company if they see a big profit potential from the product they offer.
Some businesses choose to run as a joint stock company so the investors have even more of a say in the comings and goings.
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