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Joint stock company |
Also found in: Legal, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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Joint stock company A form of business organization that falls between a corporation and a partnership. The company sells stock, and its shareholders are free to sell their stock, but shareholders are liable for all debts of the company. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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In August 2003, the RF government approved the Program (Plan) for Privatization of Federal Property in 2004 and the Basic Lines of Privatization of Federal Property until 2006, whereby it is planned, before 2006, to complete the reorganization of state controlled enterprises in the defense industry as joint stock companies and the privatization of stakes in joint stock companies that fail to contribute to the performance of state functions and tasks. A decade later, the government spun off larger enterprises, converting them into joint stock companies that gave managers and employees ownership, although in many cases the state still retained majority control. Supreme Court--that citadel of rich white males--decided that joint stock companies (corporations) were "persons" while African Americans and Native Americans were not. |
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