Joint-stock company Meaning, Definition & Usage
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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
WordNet
Definitions
(Law) , a species of partnership, consisting generally of a large number of members, having a capital divided, or agreed to be divided, into shares, the shares owned by any member being usually transferable without the consent of the rest.
