JOINT-STOCK COMPANY • FREE TRANSLATOR.ORG • Definition of Joint-stock company

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/dʒɔɪnt-stɑk kˈəmpəni/ Listen

Joint-stock company

noun

A company (usually unincorporated) which has the capital of its members pooled in a common fund; transferable shares represent ownership interest; shareholders are legally liable for all debts of the company.

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Etymology of 'Joint-stock company'

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"Joint-stock company" Quotes from Famous Books

... divided, together with the earnings thereon. But other evidence indicates that there may have been a separate stock for each of Newport's voyages, as was the case with each of the early voyages of the East India Company to the Orient. The so-called joint-stock company of that day rarely had a permanent joint-stock of the sort identified with the modern corporation. Instead, it functioned as a governing body representing all of the merchants engaged in a particular trade, who traded individually or through a variety of joint-stocks invested under the general regulation ...

— The Virginia Company Of London, 1606-1624 • Wesley Frank Craven

... period of prosperity, has yielded to the temptation to hire additional employees just as any other employer might, at regular wages, without admitting them to any share in the profits, interest, or control of the business. Such a concern is little more than an ordinary joint-stock company with an unusually large number of shareholders. As a matter of fact, plain, clear-cut cooeperative production makes up but a small part of that which is currently reported and known as such. A fairer statement would be that there ...

— An Introduction to the Industrial and Social History of England • Edward Potts Cheyney

... states appear, so they are; or, still keeping that notion, they ought to admit a distinct agent of unification to do the work of the all-knower, just as our respective souls or selves in popular philosophy do the work of partial knowers. Otherwise it is like a joint-stock company all shareholders and no treasurer or director. If our finite minds formed a billion facts, then its mind, knowing our billion, would make a universe composed of a billion and one facts. But transcendental idealism is quite as unfriendly to active principles called souls as physiological psychology ...

— A Pluralistic Universe - Hibbert Lectures at Manchester College on the - Present Situation in Philosophy • William James