introduction of joint stock company
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“A Joint Stock Company is a voluntary association of individuals for profit, having a capital divided into transferable shares, the ownership of which is the condition of membership.” Introduction: ... In India the first Companies Act was passed in 1850 and the principle of limited liability was introduced only in 1857.
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A joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). ... Therefore, joint-stock companies are commonly known as corporations or limited companies.
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