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A joint-stock company is a
business entity In law, a legal person is any person or 'thing' (less ambiguously, any legal entity) that can do the things a human person is usually able to do in law – such as enter into contracts, lawsuit, sue and be sued, ownership, own property, and so on ...
in which shares of the company's
stock In finance, stock (also capital stock) consists of all of the shares In financial markets A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities i ...

stock
can be bought & sold by
shareholder A shareholder (in the United States often referred to as stockholder) of a corporation is an individual or legal entity (such as another corporation, a body politic, a Trust law, trust or partnership) that is registered by the corporation as the ...
s. Each shareholder owns company stock in proportion, evidenced by their
shares In financial markets A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known ...
(certificates of ownership). Shareholders are able to transfer their shares to others without any effects to the continued existence of the company. In modern-day
corporate law Corporate law (also known as business law or enterprise law or sometimes company law) is the body of law Law is a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of rules t ...
, the existence of a joint-stock company is often synonymous with
incorporation Incorporation may refer to: * Incorporation (business), the creation of a corporation * Incorporation of a place, creation of municipal corporation such as a city or county * Incorporation (academic), awarding a degree based on the student having a ...
(possession of
legal personality In law Law is a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of rules to form a unified whole. A system, surrounded and influenced by its environment, is described by its b ...
separate from shareholders) and
limited liability Limited liability is a legal status where a person's financial liability Liability may refer to: Law * Legal liability, in both civil and criminal law ** Public liability, part of the law of tort which focuses on civil wrongs ** Product liabi ...
(shareholders are liable for the company's debts only to the value of the money they have invested in the company). Therefore, joint-stock companies are commonly known as
corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal ...

corporation
s or
limited companies Limited may refer to: *Limited company In a limited company, the liability of members or subscribers of the company A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural pers ...
. Some
jurisdiction Jurisdiction (from Latin Latin (, or , ) is a classical language A classical language is a language A language is a structured system of communication Communication (from Latin ''communicare'', meaning "to share" or "to be i ...
s still provide the possibility of registering joint-stock companies without limited liability. In the
United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed. The Guardian' and Telegraph' use Britain as a synonym for the United Kingdom. Some prefer to use Britain as shorth ...

United Kingdom
and in other countries that have adopted its model of company law, they are known as unlimited companies. In the
United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...

United States
, they are known simply as joint-stock companies.


Advantages

Ownership refers to a large number of privileges. The company is managed on behalf of the shareholders by a board of directors, elected at an annual general meeting. The shareholders also vote to accept or reject an annual report and audited set of accounts. Individual shareholders can sometimes stand for directorships within the company if a vacancy occurs, but that is uncommon. The shareholders are usually not liable for any of the company debts that extend beyond the company's ability to pay up to the amount of them. Joint-Stock Companies are separate legal existence which means it has other legal existence rather than the owner.


Early joint-stock companies


China

The earliest records of joint-stock companies appear in China during the Tang and Song dynasties. The Tang dynasty saw the development of the ''heben'', the earliest form of joint stock company with an active partner and one or two passive investors. By the Song dynasty this had expanded into the ''douniu'', a large pool of shareholders with management in the hands of ''jingshang'', merchants who operated their businesses using investors' funds, with investor compensation based on profit-sharing, reducing the risk of individual merchants and burdens of interest payment.


Europe

Finding the earliest joint-stock company is a matter of definition. An early form of joint-stock company was the medieval
commendaThe commenda was a medieval contract A contract is a legally binding agreement that defines and governs the rights and duties between or among its parties Image:'Hip, Hip, Hurrah! Artist Festival at Skagen', by Peder Severin Krøyer (1888) De ...

commenda
, although it was usually employed for a single commercial expedition. Around 1250 in
France France (), officially the French Republic (french: link=no, République française), is a List of transcontinental countries, transcontinental country spanning Western Europe and Overseas France, overseas regions and territories in the Ame ...

France
at
Toulouse Toulouse ( , ; oc, Tolosa ) is the prefecture A prefecture (from the Latin Latin (, or , ) is a classical language belonging to the Italic languages, Italic branch of the Indo-European languages. Latin was originally spoken in the area ...

Toulouse
, 96 shares of the ''Société des Moulins du Bazacle'', or
Bazacle Milling Company The Society of Moulins du Bazacle was founded in Toulouse Toulouse ( , ; oc, Tolosa ; la, Tolosa ) is the capital of the French departments of France, department of Haute-Garonne and of the regions of France, region of Occitanie. The city is o ...
were traded at a value that depended on the profitability of the mills the society owned, making it probably the first company of its kind in history. The
Swedish Swedish or ' may refer to: * Anything from or related to Sweden, a country in Northern Europe * Swedish language, a North Germanic language spoken primarily in Sweden and Finland * Swedish alphabet, the official alphabet used by the Swedish langua ...

Swedish
company
Stora Stora Enso Oyj (from sv, Stora and fi, Enso ) is a manufacturer of pulp, paper and other forest productA forest product is any material derived from forestry for direct consumption or commercial use, such as lumber, paper, or forage for liv ...

Stora
has documented a stock transfer for an eighth of the company (or more specifically, the mountain in which the
copper Copper is a chemical element In chemistry, an element is a pure Chemical substance, substance consisting only of atoms that all have the same numbers of protons in their atomic nucleus, nuclei. Unlike chemical compounds, chemical elem ...

copper
resource was available) as early as 1288. In more recent history, the earliest joint-stock company recognized in
England England is a Countries of the United Kingdom, country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest of England and the Celtic Sea to the southwest. E ...

England
was the
Company of Merchant Adventurers to New Lands The Company of Merchant Adventurers to New Lands was an early joint stock association, which began with private exploration and enterprise, and was to have been incorporated by King Edward VI in 1553, but received its full royal charter in 1555. I ...
, chartered in 1553 with 250 shareholders. The
Muscovy Company The Muscovy Company (also called the Russia Company or the Muscovy Trading Company russian: Московская компания, Moskovskaya kompaniya) was an English trading companyTrading companies are business Business is the activity of ...
, which had a monopoly on trade between
Russia Russia ( rus, link=no, Россия, Rossiya, ), or the Russian Federation, is a country spanning Eastern Europe Eastern Europe is the eastern region of . There is no consistent definition of the precise area it covers, partly because th ...
and
England England is a Countries of the United Kingdom, country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest of England and the Celtic Sea to the southwest. E ...

England
, was chartered two years later in 1555. The most notable joint-stock company from the
British Isles The British Isles are a group of islands in the North Atlantic off the north-western coast of continental Europe Continental Europe or mainland Europe is the contiguous continent A continent is any of several large landmasse ...

British Isles
was the
East India Company The East India Company (EIC), also known as the Honourable East India Company (HEIC), East India Trading Company (EITC), the English East India Company or (after 1707) the British East India Company, and informally known as John Company, Com ...
, which was granted a
royal charter A royal charter is a formal grant issued by a monarch under royal prerogative The royal prerogative is a body of customary authority, privilege and immunity, recognized in common law In law, common law (also known as judicial precedent or ...

royal charter
by
Queen Elizabeth I Elizabeth I (7 September 153324 March 1603) was Queen of England and Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic. It is separated from Great Britain to i ...

Queen Elizabeth I
on December 31, 1600 with the intention of establishing trade on the Indian subcontinent. The charter effectively granted the newly formed ''Honourable East India Company'' a fifteen-year
monopoly A monopoly (from Greek#REDIRECT Greek Greek may refer to: Greece Anything of, from, or related to Greece Greece ( el, Ελλάδα, , ), officially the Hellenic Republic, is a country located in Southeast Europe. Its population is approxi ...

monopoly
on all English trade in the
East Indies The East Indies (or simply the Indies), is a term used in historical narratives of the Age of Discovery The Age of Discovery, or the Age of Exploration (sometimes also, particularly regionally, Age of Contact or Contact Period), is an inf ...
. Soon afterwards, in 1602, the
Dutch East India Company The Dutch East India Company, officially the United East India Company ( nl, Vereenigde Oost Indische Compagnie; VOC), was a multinational corporation A multinational company (MNC) is a corporate A corporation is an organization—u ...

Dutch East India Company
issued shares that were made tradable on the
Amsterdam Stock Exchange Euronext Amsterdam is a stock exchange based in Amsterdam, the Netherlands. Formerly known as the Amsterdam Stock Exchange, it merged on 22 September 2000 with the Brussels Stock Exchange and the Paris Stock Exchange to form Euronext. The regi ...
. The development enhanced the ability of joint-stock companies to attract capital from investors, as they could now easily dispose of their shares. In 1612, it became the first 'corporation' in intercontinental trade with 'locked in' capital and limited liability.John F. Padgett, Walter W. Powell. The Emergence of Organizations and Markets. (Princeton University Press, 2012. Oct 14, 2012). , 9781400845552 p. 227 The joint-stock company became a more viable financial structure than previous
guild A guild is an association of artisan Wood carver in Bali An artisan (from french: artisan, it, artigiano) is a skilled craft worker who makes or creates material objects partly or entirely by hand. These objects may be functiona ...
s or state- regulated companies. The first joint-stock companies to be implemented in the
Americas The Americas (also collectively called America) is a landmass comprising the totality of North America, North and South America. The Americas make up most of the land in Earth's Western Hemisphere and comprise the New World. Along with th ...

Americas
were the
London Company The London Company, officially known as the Virginia Company of London, was a division Division or divider may refer to: Mathematics *Division (mathematics), the inverse of multiplication *Division algorithm, a method for computing the result ...
and the
Plymouth Company Image:Wpdms king james grants.png, 242px, thumbnail, The 1606 grants by James I to the London and Plymouth companies. The overlapping area (yellow) was granted to both companies on the stipulation that neither found a settlement within of each othe ...
.John F. Padgett, Walter W. Powell. The Emergence of Organizations and Markets. (Princeton University Press, 2012. Oct 14, 2012). , 9781400845552 p. 227 Transferable shares often earned positive returns on
equity Equity may refer to: Finance, accounting and ownership *Equity (finance), ownership of assets that have liabilities attached to them ** Stock, equity based on original contributions of cash or other value to a business ** Home equity, the differe ...
, which is evidenced by investment in companies like the
East India Company The East India Company (EIC), also known as the Honourable East India Company (HEIC), East India Trading Company (EITC), the English East India Company or (after 1707) the British East India Company, and informally known as John Company, Com ...
, which used the financing model to manage their trade on the Indian subcontinent. Joint-stock companies paid out divisions (dividends) to their shareholders by dividing up the profits of the voyage in the proportion of shares held. Divisions were usually cash, but when
working capital Working capital (abbreviated WC) is a financial metric which represents available to a business, organization, or other entity, including governmental entities. Along with fixed assets such as plant and equipment, working capital is considered a ...
was low and detrimental to the survival of the company, divisions were either postponed or paid out in remaining cargo, which could be sold by shareholders for profit.John F. Padgett, Walter W. Powell. The Emergence of Organizations and Markets. (Princeton University Press, 2012. Oct 14, 2012). , 9781400845552 p. 227 However, in general,
incorporation Incorporation may refer to: * Incorporation (business), the creation of a corporation * Incorporation of a place, creation of municipal corporation such as a city or county * Incorporation (academic), awarding a degree based on the student having a ...
was possible by
royal charter A royal charter is a formal grant issued by a monarch under royal prerogative The royal prerogative is a body of customary authority, privilege and immunity, recognized in common law In law, common law (also known as judicial precedent or ...

royal charter
or
private act Proposed bills are often categorized into public bills and private bills. A public bill is a proposed law Law is a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of rules to for ...
, and it was limited because of the government's jealous protection of the privileges and advantages thereby granted.John F. Padgett, Walter W. Powell. The Emergence of Organizations and Markets. (Princeton University Press, 2012. Oct 14, 2012). , 9781400845552 p. 227 As a result of the rapid expansion of capital-intensive enterprises in the course of the
Industrial Revolution The Industrial Revolution was the transition to new manufacturing processes in Great Britain, continental Europe Continental Europe or mainland Europe is the contiguous continent A continent is any of several large landmasse ...
in Europe and the United States, many businesses came to be operated as
unincorporated association Under English law English law is the common law In law, common law (also known as judicial precedent or judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in writt ...
s or extended
partnership A partnership is an arrangement where parties, known as business partner A business partner is a commercial entity with which another commercial entity has some form of Business alliance, alliance. This relationship may be a contractual, exclus ...

partnership
s, with large numbers of members. Nevertheless, membership of such associations was usually for a short term so their nature was constantly changing.John F. Padgett, Walter W. Powell. The Emergence of Organizations and Markets. (Princeton University Press, 2012. Oct 14, 2012). , 9781400845552 p. 227 Consequently, registration and incorporation of companies, without specific legislation, was introduced by the
Joint Stock Companies Act 1844The Joint Stock Companies Act 1844 (7 & 8 Vict. ''c.''110) was an Act of the Parliament of the United Kingdom The Parliament of the United Kingdom is the Parliamentary sovereignty in the United Kingdom, supreme Legislature, legislative body of ...
. Initially, companies incorporated under this Act did not have limited liability, but it became common for companies to include a limited liability clause in their internal rules. In the case of '' Hallett v Dowdall'', the
Court of the Exchequer A court is any person or institution, often as a government A government is the system or group of people governing an organized community, generally a State (polity), state. In the case of its broad associative definition, govern ...
held that such clauses bound people who have notice of them. Four years later, the
Joint Stock Companies Act 1856 The Joint Stock Companies Act 1856 (19 & 20 Vict. c.47) was a consolidating statute, recognised as the founding piece of modern United Kingdom company law The United Kingdom company law regulates corporations formed under the Companies Act 2006 ...
provided for limited liability for all joint-stock companies provided, among other things, that they included the word "limited" in their company name. The landmark case of ''
Salomon v A Salomon & Co Ltd is a landmark UK company law case. The effect of the House of Lords' unanimous ruling was to uphold firmly the doctrine of corporate personality, as set out in the Companies Act 1862, so that creditors of an insolvent company could not sue the c ...
'' established that a company with legal liability, not being a partnership, had a distinct
legal personality In law Law is a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of rules to form a unified whole. A system, surrounded and influenced by its environment, is described by its b ...
that was separate from that of its individual shareholders.


Corporate law

The existence of a corporation requires a special legal framework and body of law that specifically grants the corporation legal personality, and it typically views a corporation as a fictional person, a legal person, or a moral person (as opposed to a natural person) which shields its owners (shareholders) from "corporate" losses or liabilities; losses are limited to the number of shares owned. It furthermore creates an inducement to new investors (marketable stocks and future stock issuance). Corporate statutes typically empower corporations to own property, sign binding contracts, and pay taxes in a capacity separate from that of its shareholders, who are sometimes referred to as "members". The corporation is also empowered to borrow money, both conventionally and directly to the public, by issuing interest-bearing bonds. Corporations subsist indefinitely; "death" comes only by absorption (takeover) or bankruptcy. According to
Lord Chancellor The Lord Chancellor, formally the Lord High Chancellor of Great Britain, is the highest-ranking among the Great Officers of State In the United Kingdom, the Great Officers of State are traditional ministers of The Crown who either inheri ...
Haldane, This 'directing will' is embodied in a corporate Board of Directors. The legal personality has two economic implications. It grants creditors (as opposed to shareholders or employees) priority over the corporate assets upon liquidation. Second, corporate assets cannot be withdrawn by its shareholders, and assets of the firm cannot be taken by personal creditors of its shareholders. The second feature requires special legislation and a special legal framework, as it cannot be reproduced via standard contract law. The regulations most favorable to
incorporation Incorporation may refer to: * Incorporation (business), the creation of a corporation * Incorporation of a place, creation of municipal corporation such as a city or county * Incorporation (academic), awarding a degree based on the student having a ...
include:


Financial disclosure

In many jurisdictions, corporations whose shareholders benefit from limited liability are required to publish annual
financial statements Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to un ...
and other data so that creditors who do business with the corporation are able to assess the credit-worthiness of the corporation and cannot enforce claims against shareholders. Shareholders, therefore, experience some loss of privacy in return for limited liability. That requirement generally applies in Europe, but not in
common law In law, common law (also known as judicial precedent or judge-made law, or case law Case law is the collection of past legal decisions written by courts and similar tribunal A tribunal, generally, is any person or institution with authority ...
jurisdictions, except for publicly traded corporations (for which financial disclosure is required for investor protection).


Corporate taxation

In many countries, corporate profits are taxed at a corporate tax rate, and dividends paid to shareholders are taxed at a separate rate. Such a system is sometimes referred to as "
double taxation Double taxation is the levying of tax by two or more jurisdictions on the same income (in the case of income taxes), asset (in the case of Wealth tax, capital taxes), or financial transaction (in the case of sales taxes). Double liability may be m ...
" because any profits distributed to shareholders will eventually be taxed twice. One solution, followed by as in the case of the Australian and UK tax systems, is for the recipient of the dividend to be entitled to a tax credit to address the fact that the profits represented by the dividend have already been taxed. The company profit being passed on is thus effectively taxed only at the rate of tax paid by the eventual recipient of the dividend. In other systems, dividends are taxed at a lower rate than other income (for example, in the US), or shareholders are taxed directly on the corporation's profits, while dividends are not taxed (for example,
S corporation An S corporation, for United States federal income tax, is a closely held corporation (or, in some cases, a limited liability company A limited liability company (LLC) is the United States of America, US-specific form of a private limited ...
s in the US).


Closely held corporations and publicly traded corporations

The institution most often referenced by the word "corporation" is
publicly traded A public company, publicly traded company, publicly held company, publicly listed company, or public limited company A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, som ...
, which means that the company's shares are traded on a public stock exchange (for example, the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange A stock exchange, securities exchange, or bourse is an exchange Exchange may refer to: Places United States * Exchange, Indiana Exchange is an U ...

New York Stock Exchange
or
Nasdaq The Nasdaq Stock Market () is an American stock exchange A stock exchange, securities exchange, or bourse is an exchange Exchange may refer to: Places United States * Exchange, Indiana Exchange is an Unincorporated area, unincorpora ...
in the United States) whose shares of stock of corporations are bought and sold by and to the general public. Most of the largest businesses in the world are publicly traded corporations. However, the majority of corporations are
privately held A privately held company or private company is a company which does not offer or trade its company stock In finance, stock (also capital stock) consists of all of the shares In financial markets A financial market is a market in whic ...
, or closely held, so there is no ready market for the trading of shares. Many such corporations are owned and managed by a small group of businesspeople or companies, but the size of such a corporation can be as vast as the largest public corporations. Closely held corporations have some advantages over publicly traded corporations. A small, closely held company can often make company-changing decisions much more rapidly than a publicly traded company, as there will generally be fewer voting shareholders, and the shareholders would have common interests. A publicly traded company is also at the mercy of the market, with capital flow in and out based not only on what the company is doing but also on what the market and even what the competitors, major and minor, are doing. However, publicly traded companies also have advantages over their closely held counterparts. Publicly traded companies often have more
working capital Working capital (abbreviated WC) is a financial metric which represents available to a business, organization, or other entity, including governmental entities. Along with fixed assets such as plant and equipment, working capital is considered a ...
and can delegate debt throughout all shareholders. Therefore, shareholders of publicly traded company will each take a much smaller hit to their returns as opposed to those involved with a closely held corporation. Publicly traded companies, however, can suffer from that advantage. A closely held corporation can often voluntarily take a hit to profit with little to no repercussions if it is not a sustained loss. A publicly traded company often comes under extreme scrutiny if profit and growth are not evident to stock holders, thus stock holders may sell, further damaging the company. Often, that blow is enough to make a small public company fail. Often, communities benefit from a closely held company more so than from a public company. A closely held company is far more likely to stay in a single place that has treated it well even if that means going through hard times. Shareholders can incur some of the damage the company may receive from a bad year or slow period in the company profits. Closely held companies often have a better relationship with workers. In larger, publicly traded companies, often after only one bad year, the first area to feel the effects is the workforce with layoffs or worker hours, wages or benefits being cut. Again, in a closely held business the shareholders can incur the profit damage rather than passing it to the workers. The affairs of publicly traded and closely held corporations are similar in many respects. The main difference in most countries is that publicly traded corporations have the burden of complying with additional securities laws, which (especially in the US) may require additional periodic disclosure (with more stringent requirements), stricter corporate governance standards as well as additional procedural obligations in connection with major corporate transactions (for example, mergers) or events (for example, elections of directors). A closely held corporation may be a
subsidiary A subsidiary, subsidiary company or daughter company is a company (law), company owned or controlled by another company, which is called the parent company or holding company. Two subsidiaries that belong to the same parent company are called sis ...
of another corporation (its
parent company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
), which may itself be either a closely held or a public corporation. In some jurisdictions, the subsidiary of a listed public corporation is also defined as a public corporation (for example, in
Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

Australia
).


By countries


Australia

In
Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

Australia
corporations are registered and regulated by the Commonwealth Government through the
Australian Securities and Investments Commission The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to pro ...
. Corporations law has been largely codified in the
Corporations Act 2001 The Corporations Act 2001 (Cth) (the Corporations Act, or CA 2001) is an Act of the Commonwealth of Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the A ...
.


Brazil

In
Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At 8.5 million square kilometers (3.2 million square miles) and with over 211 mill ...

Brazil
there are many different types of legal entities ('), but the two most common ones commercially speaking are (i) ', identified by "Ltda." or "Limitada" after the company's name, equivalent to the British limited liability company, and (ii) ' or ', identified by "SA" or "Companhia" in the company's name, equivalent to the British public limited company. The "Ltda." is mainly governed by the new Civil Code, enacted in 2002, and the "SA", by Law 6.404, dated December 15, 1976, as amended.


Bulgaria

In
Bulgaria Bulgaria (; bg, България, Bǎlgariya), officially the Republic of Bulgaria ( bg, Република България, links=no, Republika Bǎlgariya, ), is a country in Southeast Europe. It is bordered by Romania to the north, Serbia ...

Bulgaria
, a joint-stock company is called a ' or ' ( bg, Акционерно дружество or )


Canada

In
Canada Canada is a country in the northern part of North America North America is a continent A continent is any of several large landmasses. Generally identified by convention (norm), convention rather than any strict criteria, ...

Canada
both the federal government and the
province A province is almost always an administrative division Administrative division, administrative unitArticle 3(1). , country subdivision, administrative region, subnational entity, first-level subdivision, as well as many similar terms, are g ...

province
s have corporate statutes, and thus a corporation may be incorporated either provincially or federally. Many older corporations in Canada stem from
Acts of Parliament Acts of parliament, sometimes referred to as primary legislation In parliamentary systems and presidential systems of government, primary legislation and secondary legislation, the latter also called delegated legislation or subordinate legislat ...
passed before the introduction of general corporation law. The oldest corporation in Canada is the
Hudson's Bay Company The Hudson's Bay Company (HBC; french: Compagnie de la Baie d'Hudson) is a Canadian, now American-owned, retail Retail is the sale of goods In economics Economics () is the social science that studies how people interact with ...
; though its business has always been based in Canada, its
Royal Charter A royal charter is a formal grant issued by a monarch under royal prerogative The royal prerogative is a body of customary authority, privilege and immunity, recognized in common law In law, common law (also known as judicial precedent or ...

Royal Charter
was issued in England by
King Charles II
King Charles II
in 1670, and became a Canadian charter by amendment in 1970 when it moved its corporate headquarters from London to Canada. Federally recognized corporations are regulated by the
Canada Business Corporations Act The ''Canada Business Corporations Act'' (CBCA; french: Loi canadienne sur les sociétés par actions) is an act of the Parliament of Canada The Parliament of Canada (french: Parlement du Canada) is the federal Federal or foederal (archaic) m ...
.


Chile

The
Chile Chile, officially the Republic of Chile, is a country in the western part of South America South America is a entirely in the and mostly in the , with a relatively small portion in the . It can also be described as the southern ...

Chile
an form of joint-stock company is called ''sociedad por acciones'' (often abbreviated "SpA"). They were created in 2007 b
Law N° 20.190
and they are the most recent variety of societary types, as they represent a simplified form of corporation – originally conceived for venture capital companies.


Czech Republic and Slovakia

The
Czech Czech may refer to: * Anything from or related to the Czech Republic The Czech Republic, also known by its short-form name Czechia and formerly known as Bohemia, is a landlocked country A landlocked country is a country A countr ...
form of the public limited company is called ' (') and its private counterpart is called ' ('). Their
Slovak Slovak may refer to: * Something from, related to, or belonging to Slovakia (''Slovenská republika'') * Slovaks, a Western Slavic ethnic group * Slovak language, an Indo-European language that belongs to the West Slavic languages * Slovak, Arkans ...

Slovak
equivalents are called ' (') and ' (').


German-speaking countries

Germany ) , image_map = , map_caption = , map_width = 250px , capital = Berlin Berlin (; ) is the Capital city, capital and List of cities in Germany by population, largest city of Germany by both area and population. Its 3,769,495 inh ...

Germany
,
Austria Austria (, ; german: Österreich ), officially the Republic of Austria (german: Republik Österreich, links=no, ), is a landlocked Eastern Alps, East Alpine country in the southern part of Central Europe. It is composed of nine States o ...

Austria
,
Switzerland , french: Suisse(sse), it, svizzero/svizzera or , rm, Svizzer/Svizra , government_type = Federalism, Federal semi-direct democracy under an assembly-independent Directorial system, directorial republic , leader_title1 = Fe ...

Switzerland
and
Liechtenstein Liechtenstein ( ; ), officially the Principality of Liechtenstein (german: link=no, Fürstentum Liechtenstein), is a German-speaking The German language (, ) is a West Germanic language mainly spoken in Central Europe Central Europ ...

Liechtenstein
recognize two forms of company limited by shares: the ''
Aktiengesellschaft (; abbreviated AG, ) is a German word for a corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity recognized by private ...
'' (AG), analogous to
public limited companies A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth of Nations, Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company who ...
(or corporations in US/Can) in the English-speaking world, and the ''
Gesellschaft mit beschränkter Haftung A ''Gesellschaft mit beschränkter Haftung'' (, abbreviated GmbH and also GesmbH in Austria), meaning "company with limited liability", is a type of legal entity In law Law is a system A system is a group of Interaction, interactin ...
'' (GmbH), similar to the modern
private limited company A private limited company is any type of business entity in Privately held company, "private" ownership used in many jurisdictions, in contrast to a Public company, publicly listed company, with some differences from country to country. Examples ...
.


Italy

Italy Italy ( it, Italia ), officially the Italian Republic ( it, Repubblica Italiana, links=no ), is a country consisting of a peninsula delimited by the Alps The Alps ; german: Alpen ; it, Alpi ; rm, Alps; sl, Alpe ) are the highest ...
recognizes three types of company limited by shares: the
public limited company A public limited company (legally abbreviated to PLC or plc) is a type of public company A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a company whose ownership is or ...
(''
società per azioni ''Società'' (meaning ''Society'') was an Italian Italian may refer to: * Anything of, from, or related to the country and nation of Italy ** Italians, an ethnic group or simply a citizen of the Italian Republic ** Italian language, a Romance la ...
'', or S.p.A.), the
private limited company A private limited company is any type of business entity in Privately held company, "private" ownership used in many jurisdictions, in contrast to a Public company, publicly listed company, with some differences from country to country. Examples ...
(''società a responsabilità limitata'', or S.r.l.), and the publicly traded partnership (''società in accomandita per azioni'', or S.a.p.a.). The latter is a hybrid of the
limited partnership A limited partnership (LP) is a form of partnership A partnership is an arrangement where parties, known as business partner A business partner is a commercial entity with which another commercial entity has some form of Business alliance, a ...
and public limited company, having two categories of shareholders, some with and some without limited liability, and is rarely used in practice.


Japan

In
Japan Japan ( ja, 日本, or , and formally ) is an island country An island country or an island nation is a country A country is a distinct territory, territorial body or political entity. It is often referred to as the land of an in ...

Japan
, both the state and local public entities under the
Local Autonomy Act The , passed by the House of Representatives House of Representatives is the name of legislative bodies A legislature is a deliberative assembly A deliberative assembly is a gathering of members (of any kind of collective) who use parl ...
(now
47 prefectures
47 prefectures
, made in the 19th century and
municipalities A municipality is usually a single administrative division Administrative division, administrative unitArticle 3(1). , country subdivision, administrative region, subnational entity, first-level subdivision, as well as many similar terms, ...
) are considered to be . Non-profit corporations may be established under the
Civil Code A civil code is a codification of private law Private law is that part of a civil law Civil law may refer to: * Civil law (common law) Civil law is a major branch of the law.Glanville Williams. ''Learning the Law''. Eleventh Edition. Stevens. ...
. The term or (企業 ''kigyō'') is used to refer to business corporations. The predominant form is the ''
Kabushiki gaisha A or ''kabushiki kaisha'', commonly abbreviated K.K., is a type of defined under the Law of Japan, Companies Act of Japan. The term is often translated as "stock company", "joint-stock company" or "stock corporation". The term ''kabushiki gai ...
'' (株式会社), used by public corporations as well as smaller enterprises. '' Mochibun kaisha'' (持分会社), a form for smaller enterprises, are becoming increasingly common. Between 2002 and 2008, the existed to bridge the gap between for-profit companies and non-governmental and non-profit organizations.


Norway

In Norway, a joint-stock company is called an ''aksjeselskap'', abbreviated ''AS''. A special and by far less common form of joint-stock companies, intended for companies with a large number of shareholders, is the publicly traded joint-stock companies, called ''allmennaksjeselskap'' and abbreviated ''ASA''. A joint-stock company must be incorporated, has an independent legal personality and limited liability, and is required to have a certain capital upon incorporation. Ordinary joint-stock companies must have a minimum capital of NOK 30,000 upon incorporation, which was reduced from 100,000 in 2012. Publicly traded joint-stock companies must have a minimum capital of NOK 1 million.


Romania

In Romania, a joint-stock company is called "societate pe acțiuni". According t
Law 31/1991
there are two types of joint-stock companies: "societatea pe acțiuni" and "societate în comandită pe acţiuni".


Russia

See:
Open joint-stock company A public joint-stock company, abbreviated PJSC (russian: Публичное акционерное общество, abbreviated russian: links=no, ПАО) or open joint-stock company, abbreviated OJSC (russian: links=no, Открытое акц ...
(OJSC).


Spain

In
Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = , national_anthem = , image_map = , map_caption = , image_map2 ...

Spain
there are two types of companies with limited liability: (i) "S.L.", or ''Sociedad Limitada'' (a private
limited company In a limited company, the liability of members or subscribers of the company A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or ...
), and (ii) "S.A.", or ''Sociedad Anónima'' (similar to a
public limited company A public limited company (legally abbreviated to PLC or plc) is a type of public company A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a company whose ownership is or ...
).


Ukraine

There exist several types of joint stock companies ( uk, Акціонерне Товариство, ') in
Ukraine Ukraine ( uk, Україна, Ukraïna, ) is a country in . It is the in Europe after , which it borders to the east and north-east. Ukraine also shares borders with to the north; , , and to the west; and to the south; and has a coastli ...

Ukraine
. Due to specifics of the Soviet economy, all enterprises in the Soviet republic as the rest of the
Soviet Union The Soviet Union,. officially the Union of Soviet Socialist Republics. (USSR),. was a that spanned during its existence from 1922 to 1991. It was nominally a of multiple national ; in practice and were highly until its final years. The ...
were state owned and private entrepreneurship was strictly prohibited and criminally prosecuted. Following the Gorbachev initiated broad spectrum reforms (
perestroika Perestroika (; russian: links=no, перестройка, p=pʲɪrʲɪˈstrojkə, a=ru-perestroika.ogg) was a political movement for reformation within the Communist Party of the Soviet Union The Communist Party of the Soviet Union (CPSU) ...
), there was introduced a term of khozraschet and permission for organization of public economic entities called cooperatives. Following
dissolution of the Soviet Union The dissolution of the Soviet Union, also negatively connoted as rus, Разва́л Сове́тского Сою́за, r=Razvál Sovétskovo Sojúza, ''Ruining of the Soviet Union''. (1988–1991) was the process of internal political, ...
, Ukraine's economy along with the rest former Soviet republics was further reformed to more liberal. Along with private entrepreneurship, many state owned companies were privatized, primarily by the former party's
apparatchik __NOTOC__ An apparatchik (; russian: аппара́тчик ) was a full-time, professional functionary of the Communist Party of the Soviet Union The Communist Party of the Soviet Union (CPSU). Abbreviated in Russian as КПСС or ''KPSS ...
s which gave a rise of another term "Red directors". Many companies started to be sold at open market and commercialized. Those companies were transformed in joint-stock companies by selling their shares for mutual cooperation and investment. As in the rest former Soviet republics (predominantly Russia) in Ukraine were created following commercial companies: * National Joint-stock company * Open Joint-stock company * Closed Joint-stock company In 2009 further reforms were introduced and open joint-stock companies were forced to be restructured as public joint-stock company ( uk, Публічне Акціонерне Товариство, links=no, ') or private joint-stock company ( uk, Приватне Акціонерне Товариство, links=no, '). Minimum amount of share capital is 1250 minimum wages (as of 1 January 2017 4,000,000 UAH or 148,000
USD The United States dollar (symbol A symbol is a mark, sign, or word In linguistics, a word of a spoken language can be defined as the smallest sequence of phonemes that can be uttered in isolation with semantic, objective or pragma ...
). Ukrain
National Securities and Stock Market Commission
is the main stock market state authority.


United Kingdom

Most companies are regulated by the
Companies Act 2006 The Companies Act 2006 (c 46) is an Act of the Parliament of the United Kingdom The Parliament of the United Kingdom is the of the , the and the . It alone possesses and thereby ultimate power over all other political bodies in the ...
. The most common type of company is the private
limited company In a limited company, the liability of members or subscribers of the company A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or ...
("Limited" or "Ltd"). Private limited companies can either be limited by shares or by guarantee. Other corporate forms include the
public limited company A public limited company (legally abbreviated to PLC or plc) is a type of public company A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a company whose ownership is or ...
("plc") and the private
unlimited company An unlimited company or private unlimited company is a hybrid company (corporation) incorporated with or without a share capital (and similar to its limited liability, limited company counterpart) but where the legal liability of the members or ...
. Some corporations, both public and private sector, are formed by Royal Charter or Act of Parliament. A special type of corporation is a
corporation sole A corporation sole is a legal entity In law, a legal person is any person A person (plural people or persons) is a being that has certain capacities or attributes such as reason, morality, consciousness or self-consciousness, and being a part ...
, which is an office held by an individual natural person (the incumbent), but which has a continuing legal entity separate from that person.


United States

Several types of conventional corporations exist in the
United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...

United States
. Generically, any business entity that is recognized as distinct from the people who own it (i.e., is not a sole proprietorship or a partnership) is a corporation. This generic label includes entities that are known by such legal labels as ‘association’, ‘organization’ and ‘limited liability company’, as well as corporations proper. Only a company that has been formally incorporated according to the laws of a particular state is called ‘corporation’. A corporation was defined in the
Dartmouth College case ''Trustees of Dartmouth College v. Woodward'', 17 U.S. (4 Wheat.) 518 (1819), was a landmark decision Landmark court decisions, in present-day common law legal systems, establish precedents that determine a significant new legal principle or conce ...
of 1819, in which Chief Justice Marshall of the
United States Supreme Court The Supreme Court of the United States (SCOTUS) is the highest court in the Federal judiciary of the United States, federal judiciary of the United States of America. It has ultimate and largely Procedures of the Supreme Court of the United ...

United States Supreme Court
stated that " A corporation is an artificial being, invisible, intangible, and existing only in contemplation of the law". A corporation is a legal entity, distinct and separate from the individuals who create and operate it. As a legal entity the corporation can acquire, own, and dispose of property in its own name like buildings, land and equipment. It can also incur liabilities and enter into contracts like franchising and leasing. American corporations can be either profit-making companies or non-profit entities. Tax-exempt non-profit corporations are often called "501(c)3 corporation", after the section of the
Internal Revenue Code The Internal Revenue Code (IRC), formally the Internal Revenue Code of 1986, is the domestic portion of federal statutory tax law in the United States, published in various volumes of the United States Statutes at Large The ''United States Sta ...

Internal Revenue Code
that addresses the tax exemption for many of them. In some states, such as Colorado, a corporation may represent itself
pro se ''Pro se'' legal representation ( or ) comes from Latin ''pro se'', meaning "for oneself" or "on behalf of themselves", which in modern law means to argue on one's own behalf in a legal proceedingLegal proceeding is an activity that seeks to in ...
in courts of law in some situations Brachfeld, Aaron, USDA (February 2012)
"Judge Boyette rules on corporate rights to self-represent"
''Meadowlark Herald'' Volume 3 Issue 6. Retrieved February 19, 2012.
The
federal government A federation (also known as a federal state) is a political entity A polity is an identifiable political Politics (from , ) is the set of activities that are associated with Decision-making, making decisions in Social group, groups, ...
can only create corporate entities pursuant to relevant powers in the
U.S. Constitution The Constitution of the United States is the Supremacy Clause, supreme law of the United States, United States of America. This founding document, originally comprising seven articles, delineates the national frame of government. Its first t ...

U.S. Constitution
. Thus, virtually all corporations in the U.S. are incorporated under the laws of a particular state. A major exception to the federal non-participation in the incorporation of private businesses is in
bank A bank is a financial institution Financial institutions, otherwise known as banking institutions, are corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), stat ...

bank
ing; under the
National Bank Act The National Banking Acts of 1863 and 1864 were two United States federal banking acts that established a system of National bank#United States, national banks, and created the United States National Banking System. They encouraged development of ...
, banks may receive charters from the federal government as "
national bank In banking A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital ...
s", subjecting them to the regulation of the federal
Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury The Department of the Treasury (USDT) is the national treasury A treasury is either *A government department re ...
rather than state banking regulators. All states have some kind of "general corporation law" (California, Delaware, Kansas, Nevada and Ohio actually use that exact name) which authorizes the formation of private corporations ''without'' having to obtain a charter for each one from the state legislature (as was formerly the case in the 19th century). Many states have separate, self-contained laws authorizing the formation and operation of certain specific types of corporations that are wholly independent of the state general corporation law. For example, in California, nonprofit corporations are incorporated under the Nonprofit Corporation Law, and in Illinois, insurers are incorporated under the Illinois Insurance Code. Corporations are created by filing the requisite documents with a particular state government. The process is called "incorporation", referring to the abstract concept of clothing the entity with a "veil" of artificial personhood (embodying, or "corporating" it, ‘corpus’ being the Latin word for ‘body’). Only certain corporations, including banks, are chartered. Others simply file their articles of incorporation with the state government as part of a registration process. Once incorporated, a corporation has artificial personhood everywhere it may operate, until such time as the corporation may be dissolved. A corporation that operates in one state while being incorporated in another is a "foreign corporation". This label also applies to corporations incorporated outside of the United States. Foreign corporations must usually register with the secretary of state's office in each state to lawfully conduct business in that state. A corporation is legally a citizen of the state (or other jurisdiction) in which it is incorporated (except when circumstances direct the corporation be classified as a citizen of the state in which it has its head office, or the state in which it does the majority of its business). Corporate business law differs dramatically from state to state. Many prospective corporations choose to incorporate in a state whose laws are most favorable to its business interests. Many large corporations are incorporated in
Delaware Delaware ( ) is a state in the Mid-Atlantic (United States), Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes i ...
, for example, without being physically located there because that state has very favorable corporate tax and disclosure laws. Companies set up for
privacy Privacy (, ) is the ability of an individual or group to seclude themselves or information about themselves, and thereby express themselves selectively. When something is private to a person, it usually means that something is inherently special ...

privacy
or asset protection often incorporate in
Nevada Nevada (, ) is a state State may refer to: Arts, entertainment, and media Literature * ''State Magazine'', a monthly magazine published by the U.S. Department of State * The State (newspaper), ''The State'' (newspaper), a daily newspaper i ...

Nevada
, which does not require disclosure of share ownership. Many states, particularly smaller ones, have modeled their corporate statutes after the
Model Business Corporation ActThe Model Business Corporation Act (MBCA) is a model act prepared by the Committee on Corporate Laws of the Section of Business Law of the American Bar Association The American Bar Association (ABA), founded August 21, 1878, is a voluntary bar ...
, one of many model sets of law prepared and published by the
American Bar Association The American Bar Association (ABA), founded August 21, 1878, is a voluntary Voluntary may refer to: * Voluntary (music)In music a voluntary is a piece of music, usually for an organ, that is played as part of a church service. In English-speak ...

American Bar Association
. As juristic persons, corporations have certain rights that attach to natural persons. The vast majority of them attach to corporations under state law, especially the law of the state in which the company is incorporated – since the corporations very existence is predicated on the laws of that state. A few rights also attach by federal constitutional and statutory law, but they are few and far between compared to the rights of natural persons. For example, a corporation has the personal right to bring a lawsuit (as well as the capacity to be sued) and, like a natural person, a corporation can be libeled.
Harvard College Harvard College is the undergraduate Undergraduate education is education conducted after secondary education and prior to postgraduate education. It typically includes all postsecondary programs up to the level of a bachelor's degree A b ...
, an undergraduate school of
Harvard University Harvard University is a private Private or privates may refer to: Music * "In Private "In Private" was the third single in a row to be a charting success for United Kingdom, British singer Dusty Springfield, after an absence of nearly t ...

Harvard University
, formally the
President and Fellows of Harvard College The President and Fellows of Harvard College (also called the Harvard Corporation or just the Corporation) is the smaller and more powerful of Harvard University Harvard University is a private Private or privates may refer to: Music * "In ...
(also known as the Harvard Corporation), is the oldest corporation in the western hemisphere. Founded in 1636, the second of Harvard's two governing boards was incorporated by the Great and General Court of Massachusetts in 1650. Significantly, Massachusetts itself was a corporate colony at that time – owned and operated by the Massachusetts Bay Company (until it lost its charter in 1684) - so Harvard College is a corporation created by a corporation. Many nations have modeled their own corporate laws on American business law. Corporate law in
Saudi Arabia (''Shahada'') , national_anthem = "National Anthem of Saudi Arabia, " "National Anthem of Saudi Arabia" , image_map = Saudi Arabia (orthographic projection).svg , capital = Riyadh , coordinates ...

Saudi Arabia
, for example, follows the model of New York State corporate law. In addition to typical corporations in the United States, the federal government, in 1971 passed the
Alaska Native Claims Settlement Act The Alaska Native Claims Settlement Act (ANCSA) was signed into law by President President most commonly refers to: *President (corporate title) A president is a leader of an organization, company, community, club, trade union, university or oth ...
(ANCSA), which authorized the creation of 12 regional native corporations for
Alaska Natives Alaska Natives or Alaskan Natives are indigenous peoples Indigenous peoples, also referred to as first peoples, first nations, aboriginal peoples, native peoples (with these terms often capitalized when referred to relating to specific c ...
and over 200 village corporations that were entitled to a settlement of land and cash. In addition to the 12 regional corporations, the legislation permitted a 13th regional corporation without a land settlement for those Alaska Natives living out of the State of Alaska at the time of passage of ANCSA.


Other business entities

Almost every recognized type of organization carries out some economic activities (for example, the
family In human society A society is a Social group, group of individuals involved in persistent Social relation, social interaction, or a large social group sharing the same spatial or social territory, typically subject to the same Politic ...

family
). Other organizations that may carry out activities that are generally considered to be ''business'' exist under the laws of various countries: *
Consumers' cooperative Raunds Co-operative Society Limited was a consumer co-operative society based in Raunds, Northamptonshire, founded in 1891 A consumers' co-operative is an enterprise owned by consumers and managed democratically which aims at fulfilling the needs ...
*
Holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
*
Limited company In a limited company, the liability of members or subscribers of the company A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or ...
(Ltd) *
Limited liability company A limited liability company (LLC) is the US-specific form of a private limited company A private limited company is any type of business entity in Privately held company, "private" ownership used in many jurisdictions, in contrast to a Pu ...
(LLC) *
Limited liability limited partnership The limited liability limited partnership (LLLP) is a relatively new modification of the limited partnership. The LLLP form of business entity In law, a legal person is any person A person (plural people or persons) is a being that has cert ...
(LLLP) *
Limited liability partnership A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not ...
(LLP) *
Limited partnership A limited partnership (LP) is a form of partnership A partnership is an arrangement where parties, known as business partner A business partner is a commercial entity with which another commercial entity has some form of Business alliance, a ...
(LP) *
Low-profit limited liability company A low-profit limited liability company (L3C) is a legal form of business entity in the United States that was created to bridge the gap between non-profit A nonprofit organization (NPO), also known as a non-business entity, not-for-profit organ ...
(L3C) *
Not-for-profit corporation A nonprofit organization (NPO), also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that o ...
*
Open joint-stock company A public joint-stock company, abbreviated PJSC (russian: Публичное акционерное общество, abbreviated russian: links=no, ПАО) or open joint-stock company, abbreviated OJSC (russian: links=no, Открытое акц ...
(OJSC) *
Partnership A partnership is an arrangement where parties, known as business partner A business partner is a commercial entity with which another commercial entity has some form of Business alliance, alliance. This relationship may be a contractual, exclus ...

Partnership
*
Sole proprietorship A sole proprietorship , also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by one person and in which there is no legal distinction between the owner and the business entity I ...
*
Trust company A trust company is a corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law "born o ...


See also

*
Aktieselskab ''Aktieselskab'' (; abbr.: ⅍, A/S or a/s, Unicode Unicode, formally the Unicode Standard, is an information technology Technical standard, standard for the consistent character encoding, encoding, representation, and handling of Characte ...
*
Types of business entity Type may refer to: Science and technology Computing * Typing Typing is the process of writing or inputting text by pressing keys on a typewriter A typewriter is a or machine for characters. Typically, a typewriter has an array of , a ...
*
Public–private partnership A public–private partnership (PPP, 3P, or P3) is an arrangement between two or more public In public relations Public relations (PR) is the practice of managing and disseminating information from an individual or an organization ...


Further reading

* * * * * * * *


External links


The History of the Corporate Business Firm
{{DEFAULTSORT:Joint-Stock Company
Legal entitiesThis category contains articles related to juristic or natural person In jurisprudence Jurisprudence, or legal theory, is the theoretical study of law. Scholars of jurisprudence seek to explain the nature of law in its most general form and ...
Types of business entity ja:ジョイント・ストック・カンパニー