JOINT-STOCK COMPANY • DICTIONARY ONE.COM • 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

... prefer an office whose system would best suit his own requirements. There are two kinds of Insurance Companies, one known as a "Mutual" office, in which all the profits which may be earned are periodically added to the amount insured, the other in the form of a Joint-Stock Company, in which a small proportion of the profits are distributed amongst the Shareholders and the remainder added to the Insurances. The Mutual Office dividing the whole of its profits amongst the insured would appear ...

— Everybody's Guide to Money Matters • William Cotton, F.S.A.

... active leaven of discord; as if, instead of a legislator chosen by the people, he had been their greatest enemy. Is it not, indeed, the height of imprudence to grant equality of political rights to men of unequal conditions? If a manufacturer, uniting all his workmen in a joint-stock company, should give to each of them a consultative and deliberative voice,—that is, should make all of them masters,—would this equality of mastership secure continued inequality of wages? That is the whole political system of Solon, reduced to its ...

— What is Property? - An Inquiry into the Principle of Right and of Government • P. J. Proudhon

... Graham, in sinister agreement. "I have always maintained that the United Synagogue could be run as a joint-stock company for the sake of a dividend, and that there wouldn't be an atom of difference in the discussions if the councillors were directors. I do believe the pillars of the community figure the Millenium as a time when every Jew shall have enough to eat, a place to worship in, and a place ...

— Children of the Ghetto • I. Zangwill

Words linked to "Joint-stock company" : company