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Joint stock company |
Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia, Hutchinson | 0.35 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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Regarding ownership, 15 banks were closed joint-stock companies (one, Armsavingsbank, being state-owned), 6 were open joint-stock companies, 4 were limited liability companies and one was a cooperative (Synthesis, 2001, pp. On the other hand, mixed joint-stock companies (AO) are not controlled efficiently enough: in more than a half of them the state pays insufficient attention to expanding their defense production potential. The South Sea Bubble produced so many corrupt profiteers and gullible victims that the Bubble Act of 1720 banned all joint-stock companies, except those established by separate Act of Parliament, for two centuries. |
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