joint stock is not form of private industry?
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The capital of the company is divided into smaller parts called shares. This can be transferred freely from one shareholder to another person. Though, this does not apply to a private company.
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Meaning of Joint Stock Company - definition
It is an association of persons formed for carrying out business activities and has a legal status independent of its members. ... This can be transferred freely from one shareholder to another person. Though, this does not apply to a private company.
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