Question

what is joint stock company ? what are its merits , demnerits and features ?
what is the difference between private company and public company?

Answer 1

Joint Stock is an artificial person having separate legality and common seal with limited liability.

Merits:-
Large Capital
Continuity
Efficient Management
Scope for Growth and Expansion
Easy transferability of share
Public Confident
Democratic Management
Social Responsibility

Demerits:-
Lengthy and Expensive legal procedure
Lack of motivation
Delay in decision
Excessive Government control
Conflicts
Oligarchic Management
Unhealthy Speculations
Social evil
Interference and influence in government decision