joint-stock company

American  

[joint-stok] / ˈdʒɔɪntˈstɒk /

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.

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joint-stock company British  

noun

1. a business enterprise characterized by its separate legal existence and the sharing of ownership between shareholders, whose liability is limited

2. a business enterprise whose owners are issued shares of transferable stock but do not enjoy limited liability

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Etymology

Origin of joint-stock company

First recorded in 1800–10

Example Sentences

It is transforming itself into a joint-stock company, unravelling an arcane structure that had caused strife with shareholders.

From Reuters • Jul. 24, 2021

In 1606, they organized the Virginia Company, a joint-stock company which sold shares to investors who expected to split its profits through dividends, much like a modern corporation.

From Textbooks • Jan. 18, 2018

In 1609, the Virginia Company became a joint-stock company, selling shares to smaller investors in a move somewhat like an I.P.O.

From The New Yorker • Nov. 6, 2014

A big advantage of owning a bit of a joint-stock company is limited liability: if the firm goes bust, its shareholders do not have to pay its debts.

From Economist • Jun. 13, 2013

The whole of the particular industry is turned into one gigantic joint-stock company; internal competition gives place to the internal monopoly of this one company.

From Socialism: Utopian and Scientific by Engels, Friedrich