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

The next year, it abandoned the principle of collective ownership, converting itself into a joint-stock company that went on to become a major silverware manufacturer.

From The New Yorker • Sep. 26, 2016

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

At the heart of its economy was the colleganza, a basic form of joint-stock company created to finance a single trade expedition.

From New York Times • Oct. 13, 2012

In 1609 this charter was revised and enlarged, granting the privileges to a joint-stock company.

From Medicine in Virginia, 1607-1699 by Hughes, Thomas Proctor