joint-stock company
A business that's collectively owned by a group of people who have bought shares in it is called a joint-stock company.
In the past, businesses that sold stock in the company and gave a percentage of ownership to each person who held shares were called joint-stock companies. One important example of a joint-stock company was England's East India Company. These entities are now considered to be the ancestors of today's shareholder-owned corporations, like Amazon and Apple.
Definitions of joint-stock company
-
a company (usually unincorporated) which has the capital of its members pooled in a common fund; transferable shares represent ownership interest; shareholders are legally liable for all debts of the companytype of:companyan institution created to conduct business
Cite this entry
Style:
MLA
- MLA
- APA
- Chicago
Copy citation
DISCLAIMER: These example sentences appear in various news sources and books to reflect the usage of the word ‘joint-stock company'.
Views expressed in the examples do not represent the opinion of Vocabulary.com or its editors.
Send us feedback
Word Family
