joint-stock company

A joint stock company (JSC) is a type of business partnership  in which the capital is formed by the individual contributions of a group of shareholders. Certificates of ownership or stocks are issued by the company in return for each contribution, and the shareholders are free to transfer their ownership interest at any time by selling their stockholding to others.
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Noun
1. 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
(hypernym) company