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companies</span> </div> </a> <button aria-controls="toc-Early_joint-stock_companies-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Early joint-stock companies subsection</span> </button> <ul id="toc-Early_joint-stock_companies-sublist" class="vector-toc-list"> <li id="toc-China" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#China"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.1</span> <span>China</span> </div> </a> <ul id="toc-China-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Europe" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Europe"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.2</span> <span>Europe</span> </div> </a> <ul id="toc-Europe-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Corporate_law" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Corporate_law"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Corporate law</span> </div> </a> <button aria-controls="toc-Corporate_law-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Corporate law subsection</span> </button> <ul id="toc-Corporate_law-sublist" class="vector-toc-list"> <li id="toc-Financial_disclosure" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Financial_disclosure"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1</span> <span>Financial disclosure</span> </div> </a> <ul id="toc-Financial_disclosure-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Corporate_taxation" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Corporate_taxation"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.2</span> <span>Corporate taxation</span> </div> </a> <ul id="toc-Corporate_taxation-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Closely_held_corporations_and_publicly_traded_corporations" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Closely_held_corporations_and_publicly_traded_corporations"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Closely held corporations and publicly traded corporations</span> </div> </a> <ul id="toc-Closely_held_corporations_and_publicly_traded_corporations-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-By_countries" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#By_countries"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>By countries</span> </div> </a> <button aria-controls="toc-By_countries-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle By countries subsection</span> </button> <ul id="toc-By_countries-sublist" class="vector-toc-list"> <li id="toc-Australia" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Australia"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.1</span> <span>Australia</span> </div> </a> <ul id="toc-Australia-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Brazil" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Brazil"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.2</span> <span>Brazil</span> </div> </a> <ul id="toc-Brazil-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Bosnia_and_Herzegovina" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Bosnia_and_Herzegovina"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.3</span> <span>Bosnia and Herzegovina</span> </div> </a> <ul id="toc-Bosnia_and_Herzegovina-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Bulgaria" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Bulgaria"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.4</span> <span>Bulgaria</span> </div> </a> <ul id="toc-Bulgaria-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Canada" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Canada"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.5</span> <span>Canada</span> </div> </a> <ul id="toc-Canada-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Chile" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Chile"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.6</span> <span>Chile</span> </div> </a> <ul id="toc-Chile-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Czech_Republic_and_Slovakia" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Czech_Republic_and_Slovakia"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.7</span> <span>Czech Republic and Slovakia</span> </div> </a> <ul id="toc-Czech_Republic_and_Slovakia-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-German-speaking_countries" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#German-speaking_countries"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.8</span> <span>German-speaking countries</span> </div> </a> <ul id="toc-German-speaking_countries-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Italy" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Italy"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.9</span> <span>Italy</span> </div> </a> <ul id="toc-Italy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Japan" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Japan"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.10</span> <span>Japan</span> </div> </a> <ul id="toc-Japan-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Latvia" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Latvia"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.11</span> <span>Latvia</span> </div> </a> <ul id="toc-Latvia-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Netherlands" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Netherlands"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.12</span> <span>Netherlands</span> </div> </a> <ul id="toc-Netherlands-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Norway" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Norway"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.13</span> <span>Norway</span> </div> </a> <ul id="toc-Norway-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Russia" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Russia"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.14</span> <span>Russia</span> </div> </a> <ul id="toc-Russia-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Spain" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Spain"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.15</span> <span>Spain</span> </div> </a> <ul id="toc-Spain-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Ukraine" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Ukraine"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.16</span> <span>Ukraine</span> </div> </a> <ul id="toc-Ukraine-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-United_Kingdom" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#United_Kingdom"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.17</span> <span>United Kingdom</span> </div> </a> <ul id="toc-United_Kingdom-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-United_States" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#United_States"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.18</span> <span>United States</span> </div> </a> <ul id="toc-United_States-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Other_business_entities" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Other_business_entities"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Other business entities</span> </div> </a> <ul id="toc-Other_business_entities-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Joint-stock company</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 59 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-59" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">59 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%B4%D8%B1%D9%83%D8%A9_%D9%85%D8%B3%D8%A7%D9%87%D9%85%D8%A9" title="شركة مساهمة – Arabic" lang="ar" hreflang="ar" data-title="شركة مساهمة" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-ast mw-list-item"><a href="https://ast.wikipedia.org/wiki/Socied%C3%A1_por_acciones" title="Sociedá por acciones – Asturian" lang="ast" hreflang="ast" data-title="Sociedá por acciones" data-language-autonym="Asturianu" data-language-local-name="Asturian" class="interlanguage-link-target"><span>Asturianu</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/S%C9%99hmdar_c%C9%99miyy%C9%99ti" title="Səhmdar cəmiyyəti – Azerbaijani" lang="az" hreflang="az" data-title="Səhmdar cəmiyyəti" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-azb mw-list-item"><a href="https://azb.wikipedia.org/wiki/%D8%B3%D9%87%D8%A7%D9%85%D8%AF%D8%A7%D8%B1_%D8%B4%DB%8C%D8%B1%DA%A9%D8%AA" title="سهامدار شیرکت – South Azerbaijani" lang="azb" hreflang="azb" data-title="سهامدار شیرکت" data-language-autonym="تۆرکجه" data-language-local-name="South Azerbaijani" class="interlanguage-link-target"><span>تۆرکجه</span></a></li><li class="interlanguage-link interwiki-bn mw-list-item"><a href="https://bn.wikipedia.org/wiki/%E0%A6%AF%E0%A7%8C%E0%A6%A5_%E0%A6%AE%E0%A7%82%E0%A6%B2%E0%A6%A7%E0%A6%A8_%E0%A6%AC%E0%A7%8D%E0%A6%AF%E0%A6%AC%E0%A6%B8%E0%A6%BE" title="যৌথ মূলধন ব্যবসা – Bangla" lang="bn" hreflang="bn" data-title="যৌথ মূলধন ব্যবসা" data-language-autonym="বাংলা" data-language-local-name="Bangla" class="interlanguage-link-target"><span>বাংলা</span></a></li><li class="interlanguage-link interwiki-zh-min-nan mw-list-item"><a href="https://zh-min-nan.wikipedia.org/wiki/Tu-sek-ho%C4%93-si%C4%81" title="Tu-sek-hoē-siā – Minnan" lang="nan" hreflang="nan" data-title="Tu-sek-hoē-siā" data-language-autonym="閩南語 / Bân-lâm-gú" data-language-local-name="Minnan" class="interlanguage-link-target"><span>閩南語 / Bân-lâm-gú</span></a></li><li class="interlanguage-link interwiki-ba mw-list-item"><a href="https://ba.wikipedia.org/wiki/%D0%90%D0%BA%D1%86%D0%B8%D0%BE%D0%BD%D0%B5%D1%80%D2%99%D0%B0%D1%80_%D0%B9%D3%99%D0%BC%D2%93%D0%B8%D3%99%D1%82%D0%B5" title="Акционерҙар йәмғиәте – Bashkir" lang="ba" hreflang="ba" data-title="Акционерҙар йәмғиәте" data-language-autonym="Башҡортса" data-language-local-name="Bashkir" class="interlanguage-link-target"><span>Башҡортса</span></a></li><li class="interlanguage-link interwiki-be mw-list-item"><a href="https://be.wikipedia.org/wiki/%D0%90%D0%BA%D1%86%D1%8B%D1%8F%D0%BD%D0%B5%D1%80%D0%BD%D0%B0%D0%B5_%D1%82%D0%B0%D0%B2%D0%B0%D1%80%D1%8B%D1%81%D1%82%D0%B2%D0%B0" title="Акцыянернае таварыства – Belarusian" lang="be" hreflang="be" data-title="Акцыянернае таварыства" data-language-autonym="Беларуская" data-language-local-name="Belarusian" class="interlanguage-link-target"><span>Беларуская</span></a></li><li class="interlanguage-link interwiki-be-x-old mw-list-item"><a href="https://be-tarask.wikipedia.org/wiki/%D0%90%D0%BA%D1%86%D1%8B%D0%B9%D0%BD%D0%B0%D0%B5_%D1%82%D0%B0%D0%B2%D0%B0%D1%80%D1%8B%D1%81%D1%82%D0%B2%D0%B0" title="Акцыйнае таварыства – Belarusian (Taraškievica orthography)" lang="be-tarask" hreflang="be-tarask" data-title="Акцыйнае таварыства" data-language-autonym="Беларуская (тарашкевіца)" data-language-local-name="Belarusian (Taraškievica orthography)" class="interlanguage-link-target"><span>Беларуская (тарашкевіца)</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%90%D0%BA%D1%86%D0%B8%D0%BE%D0%BD%D0%B5%D1%80%D0%BD%D0%BE_%D0%B4%D1%80%D1%83%D0%B6%D0%B5%D1%81%D1%82%D0%B2%D0%BE" title="Акционерно дружество – Bulgarian" lang="bg" hreflang="bg" data-title="Акционерно дружество" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-bs mw-list-item"><a href="https://bs.wikipedia.org/wiki/Dioni%C4%8Dko_dru%C5%A1tvo" title="Dioničko društvo – Bosnian" lang="bs" hreflang="bs" data-title="Dioničko društvo" data-language-autonym="Bosanski" data-language-local-name="Bosnian" class="interlanguage-link-target"><span>Bosanski</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Akciov%C3%A1_spole%C4%8Dnost" title="Akciová společnost – Czech" lang="cs" hreflang="cs" data-title="Akciová společnost" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Aktiengesellschaft" title="Aktiengesellschaft – German" lang="de" hreflang="de" data-title="Aktiengesellschaft" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/Aktsiaselts" title="Aktsiaselts – Estonian" lang="et" hreflang="et" data-title="Aktsiaselts" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%A3%CF%85%CE%BC%CE%BC%CE%B5%CF%84%CE%BF%CF%87%CE%B9%CE%BA%CE%AE_%CE%B5%CF%84%CE%B1%CE%B9%CF%81%CE%B5%CE%AF%CE%B1" title="Συμμετοχική εταιρεία – Greek" lang="el" hreflang="el" data-title="Συμμετοχική εταιρεία" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target"><span>Ελληνικά</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Sociedad_por_acciones" title="Sociedad por acciones – Spanish" lang="es" hreflang="es" data-title="Sociedad por acciones" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Akcia_kompanio" title="Akcia kompanio – Esperanto" lang="eo" hreflang="eo" data-title="Akcia kompanio" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Akzio-sozietate" title="Akzio-sozietate – Basque" lang="eu" hreflang="eu" data-title="Akzio-sozietate" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%B4%D8%B1%DA%A9%D8%AA_%D8%B3%D9%87%D8%A7%D9%85%DB%8C" title="شرکت سهامی – Persian" lang="fa" hreflang="fa" data-title="شرکت سهامی" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Soci%C3%A9t%C3%A9_par_actions" title="Société par actions – French" lang="fr" hreflang="fr" data-title="Société par actions" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EC%A3%BC%EC%8B%9D%ED%9A%8C%EC%82%AC" title="주식회사 – Korean" lang="ko" hreflang="ko" data-title="주식회사" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D4%B2%D5%A1%D5%AA%D5%B6%D5%A5%D5%BF%D5%AB%D6%80%D5%A1%D5%AF%D5%A1%D5%B6_%D5%A8%D5%B6%D5%AF%D5%A5%D6%80%D5%B8%D6%82%D5%A9%D5%B5%D5%B8%D6%82%D5%B6" title="Բաժնետիրական ընկերություն – Armenian" lang="hy" hreflang="hy" data-title="Բաժնետիրական ընկերություն" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%B8%E0%A4%82%E0%A4%AF%E0%A5%81%E0%A4%95%E0%A5%8D%E0%A4%A4_%E0%A4%AA%E0%A5%82%E0%A4%81%E0%A4%9C%E0%A5%80_%E0%A4%95%E0%A4%AE%E0%A5%8D%E0%A4%AA%E0%A4%A8%E0%A5%80" title="संयुक्त पूँजी कम्पनी – Hindi" lang="hi" hreflang="hi" data-title="संयुक्त पूँजी कम्पनी" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/Dioni%C4%8Dko_dru%C5%A1tvo" title="Dioničko društvo – Croatian" lang="hr" hreflang="hr" data-title="Dioničko društvo" data-language-autonym="Hrvatski" data-language-local-name="Croatian" class="interlanguage-link-target"><span>Hrvatski</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Perusahaan_saham_bersama" title="Perusahaan saham bersama – Indonesian" lang="id" hreflang="id" data-title="Perusahaan saham bersama" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-ia mw-list-item"><a href="https://ia.wikipedia.org/wiki/Societate_per_actiones" title="Societate per actiones – Interlingua" lang="ia" hreflang="ia" data-title="Societate per actiones" data-language-autonym="Interlingua" data-language-local-name="Interlingua" class="interlanguage-link-target"><span>Interlingua</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Societ%C3%A0_per_azioni" title="Società per azioni – Italian" lang="it" hreflang="it" data-title="Società per azioni" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-kn mw-list-item"><a href="https://kn.wikipedia.org/wiki/%E0%B2%A8%E0%B2%BF%E0%B2%97%E0%B2%AE_(%E0%B2%95%E0%B2%BE%E0%B2%B0%E0%B3%8D%E0%B2%AA%E0%B3%8A%E0%B2%B0%E0%B3%87%E0%B2%B7%E0%B2%A8%E0%B3%8D)(%E0%B2%B5%E0%B3%8D%E0%B2%AF%E0%B2%BE%E0%B2%AA%E0%B2%BE%E0%B2%B0%E0%B2%A6_%E0%B2%89%E0%B2%A6%E0%B3%8D%E0%B2%A6%E0%B3%87%E0%B2%B6%E0%B2%95%E0%B3%8D%E0%B2%95%E0%B2%BE%E0%B2%97%E0%B2%BF_%E0%B2%B8%E0%B3%87%E0%B2%B0%E0%B2%BF%E0%B2%A6_%E0%B2%B5%E0%B3%8D%E0%B2%AF%E0%B2%B5%E0%B2%B9%E0%B2%BE%E0%B2%B0_%E0%B2%B8%E0%B2%82%E0%B2%98%E0%B2%9F%E0%B2%A8%E0%B3%86)" title="ನಿಗಮ (ಕಾರ್ಪೊರೇಷನ್)(ವ್ಯಾಪಾರದ ಉದ್ದೇಶಕ್ಕಾಗಿ ಸೇರಿದ ವ್ಯವಹಾರ ಸಂಘಟನೆ) – Kannada" lang="kn" hreflang="kn" data-title="ನಿಗಮ (ಕಾರ್ಪೊರೇಷನ್)(ವ್ಯಾಪಾರದ ಉದ್ದೇಶಕ್ಕಾಗಿ ಸೇರಿದ ವ್ಯವಹಾರ ಸಂಘಟನೆ)" data-language-autonym="ಕನ್ನಡ" data-language-local-name="Kannada" class="interlanguage-link-target"><span>ಕನ್ನಡ</span></a></li><li class="interlanguage-link interwiki-ka mw-list-item"><a href="https://ka.wikipedia.org/wiki/%E1%83%A1%E1%83%90%E1%83%90%E1%83%A5%E1%83%AA%E1%83%98%E1%83%9D_%E1%83%A1%E1%83%90%E1%83%96%E1%83%9D%E1%83%92%E1%83%90%E1%83%93%E1%83%9D%E1%83%94%E1%83%91%E1%83%90" title="სააქციო საზოგადოება – Georgian" lang="ka" hreflang="ka" data-title="სააქციო საზოგადოება" data-language-autonym="ქართული" data-language-local-name="Georgian" class="interlanguage-link-target"><span>ქართული</span></a></li><li class="interlanguage-link interwiki-kk mw-list-item"><a href="https://kk.wikipedia.org/wiki/%D0%90%D0%BA%D1%86%D0%B8%D0%BE%D0%BD%D0%B5%D1%80%D0%BB%D1%96%D0%BA_%D2%9B%D0%BE%D2%93%D0%B0%D0%BC" title="Акционерлік қоғам – Kazakh" lang="kk" hreflang="kk" data-title="Акционерлік қоғам" data-language-autonym="Қазақша" data-language-local-name="Kazakh" class="interlanguage-link-target"><span>Қазақша</span></a></li><li class="interlanguage-link interwiki-ky mw-list-item"><a href="https://ky.wikipedia.org/wiki/%D0%90%D0%BA%D1%86%D0%B8%D0%BE%D0%BD%D0%B5%D1%80%D0%B4%D0%B8%D0%BA_%D0%BA%D0%BE%D0%BE%D0%BC" title="Акционердик коом – Kyrgyz" lang="ky" hreflang="ky" data-title="Акционердик коом" data-language-autonym="Кыргызча" data-language-local-name="Kyrgyz" class="interlanguage-link-target"><span>Кыргызча</span></a></li><li class="interlanguage-link interwiki-lv mw-list-item"><a href="https://lv.wikipedia.org/wiki/Akciju_sabiedr%C4%ABba" title="Akciju sabiedrība – Latvian" lang="lv" hreflang="lv" data-title="Akciju sabiedrība" data-language-autonym="Latviešu" data-language-local-name="Latvian" class="interlanguage-link-target"><span>Latviešu</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Akcin%C4%97_bendrov%C4%97" title="Akcinė bendrovė – Lithuanian" lang="lt" hreflang="lt" data-title="Akcinė bendrovė" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%90%D0%BA%D1%86%D0%B8%D0%BE%D0%BD%D0%B5%D1%80%D1%81%D0%BA%D0%BE_%D0%B4%D1%80%D1%83%D1%88%D1%82%D0%B2%D0%BE" title="Акционерско друштво – Macedonian" lang="mk" hreflang="mk" data-title="Акционерско друштво" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target"><span>Македонски</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Syarikat_saham_bersama" title="Syarikat saham bersama – Malay" lang="ms" hreflang="ms" data-title="Syarikat saham bersama" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-mn mw-list-item"><a href="https://mn.wikipedia.org/wiki/%D0%A5%D1%83%D0%B2%D1%8C%D1%86%D0%B0%D0%B0%D1%82_%D0%BA%D0%BE%D0%BC%D0%BF%D0%B0%D0%BD%D0%B8" title="Хувьцаат компани – Mongolian" lang="mn" hreflang="mn" data-title="Хувьцаат компани" data-language-autonym="Монгол" data-language-local-name="Mongolian" class="interlanguage-link-target"><span>Монгол</span></a></li><li class="interlanguage-link interwiki-ne mw-list-item"><a href="https://ne.wikipedia.org/wiki/%E0%A4%B8%E0%A4%82%E0%A4%AF%E0%A5%81%E0%A4%95%E0%A5%8D%E0%A4%A4_%E0%A4%B8%E0%A5%8D%E0%A4%9F%E0%A4%95_%E0%A4%95%E0%A4%AE%E0%A5%8D%E0%A4%AA%E0%A4%A8%E0%A5%80" title="संयुक्त स्टक कम्पनी – Nepali" lang="ne" hreflang="ne" data-title="संयुक्त स्टक कम्पनी" data-language-autonym="नेपाली" data-language-local-name="Nepali" class="interlanguage-link-target"><span>नेपाली</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E3%82%B8%E3%83%A7%E3%82%A4%E3%83%B3%E3%83%88%E3%83%BB%E3%82%B9%E3%83%88%E3%83%83%E3%82%AF%E3%83%BB%E3%82%AB%E3%83%B3%E3%83%91%E3%83%8B%E3%83%BC" title="ジョイント・ストック・カンパニー – Japanese" lang="ja" hreflang="ja" data-title="ジョイント・ストック・カンパニー" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-nap mw-list-item"><a href="https://nap.wikipedia.org/wiki/Suciet%C3%A0_ppe_azzione" title="Sucietà ppe azzione – Neapolitan" lang="nap" hreflang="nap" data-title="Sucietà ppe azzione" data-language-autonym="Napulitano" data-language-local-name="Neapolitan" class="interlanguage-link-target"><span>Napulitano</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Aksjeselskap" title="Aksjeselskap – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Aksjeselskap" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://uz.wikipedia.org/wiki/Aksiyadorlar_jamiyati" title="Aksiyadorlar jamiyati – Uzbek" lang="uz" hreflang="uz" data-title="Aksiyadorlar jamiyati" data-language-autonym="Oʻzbekcha / ўзбекча" data-language-local-name="Uzbek" class="interlanguage-link-target"><span>Oʻzbekcha / ўзбекча</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Sp%C3%B3%C5%82ka_akcyjna" title="Spółka akcyjna – Polish" lang="pl" hreflang="pl" data-title="Spółka akcyjna" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Sociedade_por_a%C3%A7%C3%B5es" title="Sociedade por ações – Portuguese" lang="pt" hreflang="pt" data-title="Sociedade por ações" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Societate_pe_ac%C8%9Biuni" title="Societate pe acțiuni – Romanian" lang="ro" hreflang="ro" data-title="Societate pe acțiuni" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%90%D0%BA%D1%86%D0%B8%D0%BE%D0%BD%D0%B5%D1%80%D0%BD%D0%BE%D0%B5_%D0%BE%D0%B1%D1%89%D0%B5%D1%81%D1%82%D0%B2%D0%BE" title="Акционерное общество – Russian" lang="ru" hreflang="ru" data-title="Акционерное общество" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-sq mw-list-item"><a href="https://sq.wikipedia.org/wiki/Shoq%C3%ABria_aksionare" title="Shoqëria aksionare – Albanian" lang="sq" hreflang="sq" data-title="Shoqëria aksionare" data-language-autonym="Shqip" data-language-local-name="Albanian" class="interlanguage-link-target"><span>Shqip</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Joint-stock_company" title="Joint-stock company – Simple English" lang="en-simple" hreflang="en-simple" data-title="Joint-stock company" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sd mw-list-item"><a href="https://sd.wikipedia.org/wiki/%D8%AC%D9%88%D8%A7%D8%A6%D9%86%D9%BD_%D8%A7%D8%B3%D9%BD%D8%A7%DA%AA_%DA%AA%D9%85%D9%BE%D9%86%D9%8A" title="جوائنٽ اسٽاڪ ڪمپني – Sindhi" lang="sd" hreflang="sd" data-title="جوائنٽ اسٽاڪ ڪمپني" data-language-autonym="سنڌي" data-language-local-name="Sindhi" class="interlanguage-link-target"><span>سنڌي</span></a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Akciov%C3%A1_spolo%C4%8Dnos%C5%A5" title="Akciová spoločnosť – Slovak" lang="sk" hreflang="sk" data-title="Akciová spoločnosť" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target"><span>Slovenčina</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Delni%C5%A1ka_dru%C5%BEba" title="Delniška družba – Slovenian" lang="sl" hreflang="sl" data-title="Delniška družba" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/%D0%94%D0%B5%D0%BE%D0%BD%D0%B8%D1%87%D0%B0%D1%80%D1%81%D0%BA%D0%BE_%D0%B4%D1%80%D1%83%D1%88%D1%82%D0%B2%D0%BE" title="Деоничарско друштво – Serbian" lang="sr" hreflang="sr" data-title="Деоничарско друштво" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target"><span>Српски / srpski</span></a></li><li class="interlanguage-link interwiki-sh mw-list-item"><a href="https://sh.wikipedia.org/wiki/Akcionarsko_dru%C5%A1tvo" title="Akcionarsko društvo – Serbo-Croatian" lang="sh" hreflang="sh" data-title="Akcionarsko društvo" data-language-autonym="Srpskohrvatski / српскохрватски" data-language-local-name="Serbo-Croatian" class="interlanguage-link-target"><span>Srpskohrvatski / српскохрватски</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Osakeyhti%C3%B6" title="Osakeyhtiö – Finnish" lang="fi" hreflang="fi" data-title="Osakeyhtiö" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Aktiebolag" title="Aktiebolag – Swedish" lang="sv" hreflang="sv" data-title="Aktiebolag" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-tg mw-list-item"><a href="https://tg.wikipedia.org/wiki/%D2%B6%D0%B0%D0%BC%D1%8A%D0%B8%D1%8F%D1%82%D0%B8_%D1%81%D0%B0%D2%B3%D2%B3%D0%BE%D0%BC%D3%A3" title="Ҷамъияти саҳҳомӣ – Tajik" lang="tg" hreflang="tg" data-title="Ҷамъияти саҳҳомӣ" data-language-autonym="Тоҷикӣ" data-language-local-name="Tajik" class="interlanguage-link-target"><span>Тоҷикӣ</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%90%D0%BA%D1%86%D1%96%D0%BE%D0%BD%D0%B5%D1%80%D0%BD%D0%B5_%D1%82%D0%BE%D0%B2%D0%B0%D1%80%D0%B8%D1%81%D1%82%D0%B2%D0%BE" title="Акціонерне товариство – Ukrainian" lang="uk" hreflang="uk" data-title="Акціонерне товариство" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/C%C3%B4ng_ty_c%E1%BB%95_ph%E1%BA%A7n" title="Công ty cổ phần – Vietnamese" lang="vi" hreflang="vi" data-title="Công ty cổ phần" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li><li class="interlanguage-link interwiki-wuu mw-list-item"><a href="https://wuu.wikipedia.org/wiki/%E8%82%A1%E4%BB%BD%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8" title="股份有限公司 – Wu" lang="wuu" hreflang="wuu" data-title="股份有限公司" data-language-autonym="吴语" data-language-local-name="Wu" class="interlanguage-link-target"><span>吴语</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E8%82%A1%E4%BB%BD%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8" title="股份有限公司 – Chinese" lang="zh" hreflang="zh" data-title="股份有限公司" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span class="wb-langlinks-edit wb-langlinks-link"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q134161#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></span></div> </div> </div> </div> </header> <div class="vector-page-toolbar"> <div class="vector-page-toolbar-container"> <div id="left-navigation"> <nav aria-label="Namespaces"> <div id="p-associated-pages" class="vector-menu 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part of <a href="/wiki/Category:Corporate_law" title="Category:Corporate law">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle"><a href="/wiki/Corporate_law" title="Corporate law">Corporate law</a></th></tr><tr><td class="sidebar-image"><span typeof="mw:File"><a href="/wiki/File:Society.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Society.svg/200px-Society.svg.png" decoding="async" width="200" height="79" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Society.svg/300px-Society.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Society.svg/400px-Society.svg.png 2x" data-file-width="96" data-file-height="38" /></a></span></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">By jurisdiction</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Anguillan_company_law" title="Anguillan company law">Anguilla</a></li> <li><a href="/wiki/Australian_corporate_law" title="Australian corporate law">Australia</a></li> <li><a href="/wiki/British_Virgin_Islands_company_law" title="British Virgin Islands company law">BVI</a></li> <li><a href="/wiki/Canadian_corporate_law" title="Canadian corporate law">Canada</a></li> <li><a href="/wiki/Cayman_Islands_company_law" title="Cayman Islands company law">Cayman Islands</a></li> <li><a href="/wiki/Indian_company_law" title="Indian company law">India</a></li> <li><a href="/wiki/South_African_company_law" title="South African company law">South Africa</a></li> <li><a href="/wiki/United_Kingdom_company_law" title="United Kingdom company law">UK</a></li> <li><a href="/wiki/United_States_corporate_law" title="United States corporate law">United States</a></li> <li><a href="/wiki/Corporate_law_in_Vietnam" title="Corporate law in Vietnam">Vietnam</a></li> <li><br /><a href="/wiki/European_corporate_law" class="mw-redirect" title="European corporate law">European Union</a> <ul><li><a href="/wiki/French_company_law" title="French company law">France</a></li> <li><a href="/wiki/German_company_law" title="German company law">Germany</a></li></ul></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">General corporate forms</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Company" title="Company">Company</a></li> <li><a href="/wiki/Conglomerate_(company)" title="Conglomerate (company)">Conglomerate</a></li> <li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li> <li><a href="/wiki/Corporation" title="Corporation">Corporation</a></li> <li><a href="/wiki/Holding_company" title="Holding company">Holding company</a></li> <li><a class="mw-selflink selflink">Joint-stock</a></li> <li><a href="/wiki/Partnership" title="Partnership">Partnership</a> <ul><li><a href="/wiki/General_partnership" title="General partnership">General</a></li> <li><a href="/wiki/Limited_partnership" title="Limited partnership">Limited</a></li> <li><a href="/wiki/Limited_liability_partnership" title="Limited liability partnership">Limited liability</a></li></ul></li> <li><a href="/wiki/Private_limited_company" title="Private limited company">Private limited</a></li> <li><a href="/wiki/Shell_corporation" title="Shell corporation">Shell corporation</a></li> <li><a href="/wiki/Shelf_corporation" title="Shelf corporation">Shelf corporation</a></li> <li><a href="/wiki/Sole_proprietorship" title="Sole proprietorship">Sole proprietorship</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)"><a href="/wiki/List_of_legal_entity_types_by_country" title="List of legal entity types by country">Corporate forms<br />by jurisdiction</a></div><div class="sidebar-list-content mw-collapsible-content"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading"> <a href="/wiki/European_corporate_law" class="mw-redirect" title="European corporate law">European Union</a></th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Societas_Europaea" title="Societas Europaea"><i>Societas</i> <span style="font-size:85%;">(SE)</span></a></li> <li><a href="/wiki/Societas_cooperativa_Europaea" title="Societas cooperativa Europaea"><i>Societas cooperativa</i> <span style="font-size:85%;">(SCE)</span></a></li> <li><a href="/wiki/Societas_privata_Europaea" title="Societas privata Europaea"><i>Societas privata</i> <span style="font-size:85%;">(SPE)</span></a></li> <li><a href="/wiki/Societas_unius_personae" title="Societas unius personae"><i>Societas unius personae</i> <span style="font-size:85%;">(SUP)</span></a></li> <li><a href="/wiki/European_economic_interest_grouping" title="European economic interest grouping">Economic interest grouping <span style="font-size:85%;">(EEIG)</span></a></li></ul></td> </tr><tr><th class="sidebar-heading"> <span class="nowrap">UK / Ireland / Commonwealth</span></th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Charitable_incorporated_organisation" title="Charitable incorporated organisation">Charitable incorporated organisation (England and Wales) <span style="font-size:85%;">(CIO)</span></a></li> <li><a href="/wiki/Scottish_charitable_incorporated_organisation" title="Scottish charitable incorporated organisation">Scottish charitable incorporated organisation <span style="font-size:85%;">(SCIO)</span></a></li> <li><a href="/wiki/Community_interest_company" title="Community interest company">Community interest company <span style="font-size:85%;">(CIC)</span></a></li> <li><a href="/wiki/Industrial_and_provident_society" title="Industrial and provident society">Industrial and provident society <span style="font-size:85%;">(IPS)</span></a></li> <li><br /><a href="/wiki/Limited_company" title="Limited company">Limited company <span style="font-size:85%;">(Ltd.)</span></a> <ul><li><a href="/wiki/Private_company_limited_by_guarantee" class="mw-redirect" title="Private company limited by guarantee">by guarantee</a></li> <li><a href="/wiki/Private_company_limited_by_shares" title="Private company limited by shares">by shares</a></li> <li><a href="/wiki/Proprietary_company" title="Proprietary company">proprietary</a></li> <li><a href="/wiki/Public_limited_company" title="Public limited company">public</a></li></ul></li> <li><a href="/wiki/Unlimited_company" title="Unlimited company">Unlimited company</a></li></ul></td> </tr><tr><th class="sidebar-heading"> United States</th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Benefit_corporation" title="Benefit corporation">Benefit corporation</a></li> <li><a href="/wiki/C_corporation" title="C corporation">C corporation</a></li> <li><a href="/wiki/Limited_liability_company" title="Limited liability company">Limited liability company <span style="font-size:85%;">(LLC)</span></a> <ul><li><a href="/wiki/Low-profit_limited_liability_company" title="Low-profit limited liability company">Low-profit LLC</a></li></ul></li> <li><a href="/wiki/Series_LLC" title="Series LLC">Series LLC</a></li> <li><a href="/wiki/Limited_liability_limited_partnership" title="Limited liability limited partnership">Limited liability limited partnership <span style="font-size:85%;">(LLLP)</span></a></li> <li><a href="/wiki/S_corporation" title="S corporation">S corporation</a></li> <li><span class="nowrap"><a href="/wiki/Delaware_General_Corporation_Law" title="Delaware General Corporation Law">Delaware corporation</a> / <a href="/wiki/Delaware_statutory_trust" title="Delaware statutory trust">statutory trust</a></span></li> <li><a href="/wiki/Massachusetts_business_trust" title="Massachusetts business trust">Massachusetts business trust</a></li> <li><a href="/wiki/Nevada_corporation" title="Nevada corporation">Nevada corporation</a></li></ul></td> </tr><tr><th class="sidebar-heading"> Others</th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Aktiebolag" title="Aktiebolag"><i>Aktiebolag</i> <span style="font-size:85%;">(AB)</span></a></li> <li><a href="/wiki/Aktiengesellschaft" title="Aktiengesellschaft"><i>Aktiengesellschaft</i> <span style="font-size:85%;">(AG)</span></a></li> <li><a href="/wiki/Ansvarlig_selskap" title="Ansvarlig selskap"><i>Ansvarlig selskap</i> <span style="font-size:85%;">(ANS)</span></a></li> <li><a href="/wiki/Aktieselskab" title="Aktieselskab"><i>Aktieselskab</i> <span style="font-size:85%;">(A/S)</span></a></li> <li><a href="/wiki/Aksjeselskap" title="Aksjeselskap"><i>Aksjeselskap</i> <span style="font-size:85%;">(AS)</span></a></li> <li><a href="/wiki/Gesellschaft_mit_beschr%C3%A4nkter_Haftung" class="mw-redirect" title="Gesellschaft mit beschränkter Haftung"><i>Gesellschaft mit beschränkter Haftung</i> <span style="font-size:85%;">(GmbH)</span></a></li> <li><a href="/wiki/Kabushiki_gaisha" title="Kabushiki gaisha"><i>Kabushiki gaisha</i> <span style="font-size:85%;">(K.K.)</span></a></li> <li><a href="/wiki/Naamloze_vennootschap" title="Naamloze vennootschap"><i>Naamloze vennootschap</i> <span style="font-size:85%;">(N.V.)</span></a></li> <li><a href="/wiki/Osakeyhti%C3%B6" title="Osakeyhtiö"><i>Osakeyhtiö</i> <span style="font-size:85%;">(Oy)</span></a></li> <li><a href="/wiki/S.A._(corporation)" title="S.A. (corporation)">S.A.</a></li> <li><a href="/wiki/Soci%C3%A9t%C3%A9_%C3%A0_responsabilit%C3%A9_limit%C3%A9e" title="Société à responsabilité limitée"><i>Société à responsabilité limitée</i> <span style="font-size:85%;">(SARL)</span></a></li> <li><a href="/wiki/Types_of_business_entity" class="mw-redirect" title="Types of business entity">more...</a></li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">Doctrines</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Business_judgment_rule" title="Business judgment rule">Business judgment rule</a></li> <li><a href="/wiki/Corporate_governance" title="Corporate governance">Corporate governance</a></li> <li><a href="/wiki/De_facto_corporation_and_corporation_by_estoppel" title="De facto corporation and corporation by estoppel"><i>De facto</i> and estoppel corporations</a></li> <li><a href="/wiki/Internal_affairs_doctrine" title="Internal affairs doctrine">Internal affairs doctrine</a></li> <li><a href="/wiki/Limited_liability" title="Limited liability">Limited liability</a></li> <li><a href="/wiki/Tag-along_right" title="Tag-along right">Tag-along right</a></li> <li><a href="/wiki/Drag-along_right" title="Drag-along right">Drag-along right</a></li> <li><a href="/wiki/Piercing_the_corporate_veil" title="Piercing the corporate veil">Piercing the corporate veil</a></li> <li><a href="/wiki/Rochdale_Principles" title="Rochdale Principles">Rochdale Principles</a></li> <li><i><a href="/wiki/Ultra_vires" title="Ultra vires">Ultra vires</a></i></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">Related areas</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Beneficial_ownership" title="Beneficial ownership">Beneficial ownership</a></li> <li><a href="/wiki/Civil_procedure" title="Civil procedure">Civil procedure</a></li> <li><a href="/wiki/Contract" title="Contract">Contract</a></li> <li><a href="/wiki/List_of_company_registers" class="mw-redirect" title="List of company registers">Corporate registers</a></li> <li><a href="/wiki/Registered_agent" title="Registered agent">Registered agent</a></li></ul></div></div></td> </tr><tr><td class="sidebar-below"> <ul><li><a href="/wiki/Portal:Companies" title="Portal:Companies">Company portal</a></li> <li><a href="/wiki/Portal:Law" title="Portal:Law">Law portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Corporate_law" title="Template:Corporate law"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Corporate_law" title="Template talk:Corporate law"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Corporate_law" title="Special:EditPage/Template:Corporate law"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><table class="sidebar sidebar-collapse nomobile nowraplinks hlist"><tbody><tr><th class="sidebar-title" style="font-size:130%;"><a href="/wiki/Business_administration" title="Business administration">Business administration</a></th></tr><tr><td class="sidebar-above"> Management of a business</td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Accounting" title="Accounting">Accounting</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Management_accounting" title="Management accounting">Management accounting</a></li> <li><a href="/wiki/Financial_accounting" title="Financial accounting">Financial accounting</a></li> <li><a href="/wiki/Audit" title="Audit">Audit</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Legal_person" title="Legal person">Business entity</a> (<a href="/wiki/List_of_legal_entity_types_by_country" title="List of legal entity types by country">list</a>)</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Corporate_group" title="Corporate group">Corporate group</a></li> <li><a href="/wiki/Corporation_sole" title="Corporation sole">Corporation sole</a></li> <li><a href="/wiki/Company" title="Company">Company</a></li> <li><a href="/wiki/Conglomerate_(company)" title="Conglomerate (company)">Conglomerate</a></li> <li><a href="/wiki/Holding_company" title="Holding company">Holding company</a></li> <li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li> <li><a href="/wiki/Corporation" title="Corporation">Corporation</a></li> <li><a class="mw-selflink selflink">Joint-stock company</a></li> <li><a href="/wiki/Limited_liability_company" title="Limited liability company">Limited liability company</a></li> <li><a href="/wiki/Partnership" title="Partnership">Partnership</a></li> <li><a href="/wiki/Privately_held_company" title="Privately held company">Privately held company</a></li> <li><a href="/wiki/Sole_proprietorship" title="Sole proprietorship">Sole proprietorship</a></li> <li><a href="/wiki/State-owned_enterprise" title="State-owned enterprise">State-owned enterprise</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Corporate_governance" title="Corporate governance">Corporate governance</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Annual_general_meeting" title="Annual general meeting">Annual general meeting</a></li> <li><a href="/wiki/Board_of_directors" title="Board of directors">Board of directors</a></li> <li><a href="/wiki/Supervisory_board" title="Supervisory board">Supervisory board</a></li> <li><a href="/wiki/Advisory_board" title="Advisory board">Advisory board</a></li> <li><a href="/wiki/Audit_committee" title="Audit committee">Audit committee</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Corporate_law" title="Corporate law">Corporate law</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Commercial_law" title="Commercial law">Commercial law</a></li> <li><a href="/wiki/Constitutional_documents" title="Constitutional documents">Constitutional documents</a></li> <li><a href="/wiki/Contract" title="Contract">Contract</a></li> <li><a href="/wiki/Corporate_crime" title="Corporate crime">Corporate crime</a></li> <li><a href="/wiki/Corporate_liability" title="Corporate liability">Corporate liability</a></li> <li><a href="/wiki/Insolvency_law" class="mw-redirect" title="Insolvency law">Insolvency law</a></li> <li><a href="/wiki/International_trade_law" title="International trade law">International trade law</a></li> <li><a href="/wiki/Mergers_and_acquisitions" title="Mergers and acquisitions">Mergers and acquisitions</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Corporate_title" title="Corporate title">Corporate title</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Chairman" class="mw-redirect" title="Chairman">Chairman</a></li> <li><a href="/wiki/Chief_business_officer" title="Chief business officer">Chief business officer</a>/<a href="/wiki/Chief_brand_officer" class="mw-redirect" title="Chief brand officer">Chief brand officer</a></li> <li><a href="/wiki/Chief_executive_officer" title="Chief executive officer">Chief executive officer</a>/<a href="/wiki/Chief_operating_officer" title="Chief operating officer">Chief operating officer</a></li> <li><a href="/wiki/Chief_financial_officer" title="Chief financial officer">Chief financial officer</a></li> <li><a href="/wiki/Chief_human_resources_officer" title="Chief human resources officer">Chief human resources officer</a></li> <li><a href="/wiki/Chief_information_officer" title="Chief information officer">Chief information officer</a>/<a href="/wiki/Chief_marketing_officer" title="Chief marketing officer">Chief marketing officer</a></li> <li><a href="/wiki/Chief_product_officer" title="Chief product officer">Chief product officer</a>/<a href="/wiki/Chief_technology_officer" title="Chief technology officer">Chief technology officer</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Economics" title="Economics">Economics</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Commodity" title="Commodity">Commodity</a></li> <li><a href="/wiki/Public_economics" title="Public economics">Public economics</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labour economics</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development economics</a></li> <li><a href="/wiki/International_economics" title="International economics">International economics</a></li> <li><a href="/wiki/Mixed_economy" title="Mixed economy">Mixed economy</a></li> <li><a href="/wiki/Planned_economy" title="Planned economy">Planned economy</a></li> <li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental economics</a></li> <li><a href="/wiki/Open_economy" title="Open economy">Open economy</a></li> <li><a href="/wiki/Market_economy" title="Market economy">Market economy</a></li> <li><a href="/wiki/Knowledge_economy" title="Knowledge economy">Knowledge economy</a></li> <li><a href="/wiki/Microeconomics" title="Microeconomics">Microeconomics</a></li> <li><a href="/wiki/Macroeconomics" title="Macroeconomics">Macroeconomics</a></li> <li><a href="/wiki/Economic_development" title="Economic development">Economic development</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Economic statistics</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)">Finance</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Financial_statement" title="Financial statement">Financial statement</a></li> <li><a href="/wiki/Insurance" title="Insurance">Insurance</a></li> <li><a href="/wiki/Factoring_(finance)" title="Factoring (finance)">Factoring</a></li> <li><a href="/wiki/Cash_conversion_cycle" title="Cash conversion cycle">Cash conversion cycle</a></li> <li><a href="/wiki/Insider_dealing" class="mw-redirect" title="Insider dealing">Insider dealing</a></li> <li><a href="/wiki/Capital_budgeting" title="Capital budgeting">Capital budgeting</a></li> <li><a href="/wiki/Commercial_bank" title="Commercial bank">Commercial bank</a></li> <li><a href="/wiki/Derivative_(finance)" title="Derivative (finance)">Derivative</a></li> <li><a href="/wiki/Financial_statement_analysis" title="Financial statement analysis">Financial statement analysis</a></li> <li><a href="/wiki/Financial_risk" title="Financial risk">Financial risk</a></li> <li><a href="/wiki/Public_finance" title="Public finance">Public finance</a></li> <li><a href="/wiki/Corporate_finance" title="Corporate finance">Corporate finance</a></li> <li><a href="/wiki/Managerial_finance" title="Managerial finance">Managerial finance</a></li> <li><a href="/wiki/International_finance" title="International finance">International finance</a></li> <li><a href="/wiki/Liquidation" title="Liquidation">Liquidation</a></li> <li><a href="/wiki/Stock_market" title="Stock market">Stock market</a></li> <li><a href="/wiki/Financial_market" title="Financial market">Financial market</a></li> <li><a href="/wiki/Tax" title="Tax">Tax</a></li> <li><a href="/wiki/Financial_institution" title="Financial institution">Financial institution</a></li> <li><a href="/wiki/Capital_management" title="Capital management">Capital management</a></li> <li><a href="/wiki/Venture_capital" title="Venture capital">Venture capital</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)">Types of management</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Asset_management" title="Asset management">Asset</a></li> <li><a href="/wiki/Brand_management" title="Brand management">Brand</a></li> <li><a href="/wiki/Business_intelligence" title="Business intelligence">Business intelligence</a></li> <li><a href="/wiki/Business_development" title="Business development">Business development</a></li> <li><a href="/wiki/Capacity_management" title="Capacity management">Capacity</a></li> <li><a href="/wiki/Capability_management_in_business" title="Capability management in business">Capability</a></li> <li><a href="/wiki/Change_management" title="Change management">Change</a> <ul><li><a href="/wiki/Innovation_management" title="Innovation management">innovation</a></li></ul></li> <li><a href="/wiki/Commercial_management" title="Commercial management">Commercial</a> <ul><li><a href="/wiki/Marketing_management" title="Marketing management">Marketing</a></li></ul></li> <li><a href="/wiki/Communications_management" title="Communications management">Communications</a></li> <li><a href="/wiki/Configuration_management" title="Configuration management">Configuration</a></li> <li><a href="/wiki/Conflict_management" title="Conflict management">Conflict</a></li> <li><a href="/wiki/Content_management" title="Content management">Content</a></li> <li><a href="/wiki/Customer_relationship_management" title="Customer relationship management">Customer relationship</a></li> <li><a href="/wiki/Distributed_management" title="Distributed management">Distributed</a></li> <li><a href="/wiki/Earned_value_management" title="Earned value management">Earned value</a></li> <li><a href="/wiki/Electronic_business" title="Electronic business">Electronic business</a></li> <li><a href="/wiki/Enterprise_resource_planning" title="Enterprise resource planning">Enterprise resource planning</a>  <ul><li><a href="/wiki/Management_information_system" title="Management information system">management information system</a></li></ul></li> <li><a href="/wiki/Financial_management" title="Financial management">Financial</a></li> <li><a href="/wiki/Human_resource_management" title="Human resource management">Human resource</a>  <ul><li><a href="/wiki/Human_resources" title="Human resources">development</a></li></ul></li> <li><a href="/wiki/Incident_management" title="Incident management">Incident</a></li> <li><a href="/wiki/Knowledge_management" title="Knowledge management">Knowledge</a></li> <li><a href="/wiki/Enterprise_legal_management" title="Enterprise legal management">Legal</a></li> <li><a href="/wiki/Materials_management" title="Materials management">Materials</a></li> <li><a href="/wiki/Network_management" title="Network management">Network</a> <ul><li><a href="/wiki/Network_administrator" title="Network administrator">administrator</a></li></ul></li> <li><a href="/wiki/Office_management" title="Office management">Office</a></li> <li><a href="/wiki/Operations_management" title="Operations management">Operations</a>  <ul><li><a href="/wiki/Operations_management_for_services" title="Operations management for services">services</a></li></ul></li> <li><a href="/wiki/Performance_management" class="mw-redirect" title="Performance management">Performance</a></li> <li><a href="/wiki/Power_management" title="Power management">Power</a></li> <li><a href="/wiki/Business_process_management" title="Business process management">Process</a></li> <li><a href="/wiki/Product_life-cycle_management" class="mw-redirect" title="Product life-cycle management">Product life-cycle</a></li> <li><a href="/wiki/Product_management" title="Product management">Product</a></li> <li><a href="/wiki/Project_management" title="Project management">Project</a></li> <li><a href="/wiki/Property_management" title="Property management">Property</a></li> <li><a href="/wiki/Quality_management" title="Quality management">Quality</a></li> <li><a href="/wiki/Records_management" title="Records management">Records</a></li> <li><a href="/wiki/Resource_management" title="Resource management">Resource</a></li> <li><a href="/wiki/Risk_management" title="Risk management">Risk</a>  <ul><li><a href="/wiki/Crisis_management" title="Crisis management">crisis</a></li></ul></li> <li><a href="/wiki/Sales_management" title="Sales management">Sales</a></li> <li><a href="/wiki/Security_management" title="Security management">Security</a></li> <li><a href="/wiki/Service_management" title="Service management">Service</a></li> <li><a href="/wiki/Strategic_management" title="Strategic management">Strategic</a></li> <li><a href="/wiki/Supply_chain_management" title="Supply chain management">Supply chain</a></li> <li><a href="/wiki/Systems_management" title="Systems management">Systems</a> <ul><li><a href="/wiki/System_administrator" title="System administrator">administrator</a></li></ul></li> <li><a href="/wiki/Talent_management" title="Talent management">Talent</a></li> <li><a href="/wiki/Technology_management" title="Technology management">Technology</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)">Organization</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Organizational_architecture" title="Organizational architecture">Architecture</a></li> <li><a href="/wiki/Organizational_behavior" title="Organizational behavior">Behavior</a></li> <li><a href="/wiki/Organizational_communication" title="Organizational communication">Communication</a></li> <li><a href="/wiki/Organizational_culture" title="Organizational culture">Culture</a></li> <li><a href="/wiki/Organizational_conflict" title="Organizational conflict">Conflict</a></li> <li><a href="/wiki/Organization_development" title="Organization development">Development</a></li> <li><a href="/wiki/Organizational_engineering" title="Organizational engineering">Engineering</a></li> <li><a href="/wiki/Hierarchical_organization" title="Hierarchical organization">Hierarchy</a></li> <li><a href="/wiki/Organizational_patterns" title="Organizational patterns">Patterns</a></li> <li><a href="/wiki/Organizational_space" title="Organizational space">Space</a></li> <li><a href="/wiki/Organizational_structure" title="Organizational structure">Structure</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Trade" title="Trade">Trade</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Business_analysis" title="Business analysis">Business analysis</a></li> <li><a href="/wiki/Business_ethics" title="Business ethics">Business ethics</a></li> <li><a href="/wiki/Business_plan" title="Business plan">Business plan</a></li> <li><a href="/wiki/Business_judgment_rule" title="Business judgment rule">Business judgment rule</a></li> <li><a href="/wiki/Consumer_behaviour" title="Consumer behaviour">Consumer behaviour</a></li> <li><a href="/wiki/Business_operations" title="Business operations">Business operations</a></li> <li><a href="/wiki/International_business" title="International business">International business</a></li> <li><a href="/wiki/Business_model" title="Business model">Business model</a></li> <li><a href="/wiki/International_trade" title="International trade">International trade</a> <ul><li><a href="/wiki/Trade_route" title="Trade route">Trade route</a></li></ul></li> <li><a href="/wiki/Business_process" title="Business process">Business process</a></li> <li><a href="/wiki/Business_statistics" class="mw-redirect" title="Business statistics">Business statistics</a></li></ul></div></div></td> </tr><tr><td class="sidebar-below"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business_and_economics" class="mw-redirect" title="Portal:Business and economics">Business and economics portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Business_administration" title="Template:Business administration"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Business_administration" title="Template talk:Business administration"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Business_administration" title="Special:EditPage/Template:Business administration"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>A <b>joint-stock company</b> (JSC) is a <a href="/wiki/Business_entity" class="mw-redirect" title="Business entity">business entity</a> in which shares of the company's <a href="/wiki/Capital_stock" class="mw-redirect" title="Capital stock">stock</a> can be bought and sold by <a href="/wiki/Shareholder" title="Shareholder">shareholders</a>. Each shareholder owns company stock in proportion, evidenced by their <a href="/wiki/Share_(finance)" title="Share (finance)">shares</a> (certificates of ownership).<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> Shareholders are able to transfer their shares to others without any effects to the <a href="/wiki/Perpetual_succession" title="Perpetual succession">continued existence</a> of the company.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p><p>In modern-day <a href="/wiki/Corporate_law" title="Corporate law">corporate law</a>, the existence of a joint-stock company is often synonymous with <a href="/wiki/Incorporation_(business)" title="Incorporation (business)">incorporation</a> (possession of <a href="/wiki/Legal_personality" class="mw-redirect" title="Legal personality">legal personality</a> separate from shareholders) and <a href="/wiki/Limited_liability" title="Limited liability">limited liability</a> (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 <a href="/wiki/Corporation" title="Corporation">corporations</a> or <a href="/wiki/Limited_company" title="Limited company">limited companies</a>. </p><p>Some <a href="/wiki/Jurisdiction_(area)" title="Jurisdiction (area)">jurisdictions</a> still provide the possibility of registering joint-stock companies without limited liability. In the <a href="/wiki/United_Kingdom" title="United Kingdom">United Kingdom</a> and in other countries that have adopted its model of company law, they are known as <a href="/wiki/Unlimited_company" title="Unlimited company">unlimited companies</a>. </p><p>A joint-stock company is an artificial person; it has legal existence separate from persons composing it. It can sue and can be sued in its own name. It is created by law, established for commercial purposes, and comprises a large number of members. The shares of each member can be purchased, sold, and transferred without the consent of other members. Its capital is divided into transferable shares, suitable for large undertakings. Joint stock companies have a perpetual succession and a common seal. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Advantages">Advantages</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=1" title="Edit section: Advantages"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>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.<sup id="cite_ref-economicdiscussion_3-0" class="reference"><a href="#cite_note-economicdiscussion-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p><p>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. </p><p>A joint-stock company also differs from other company forms, as it lacks internal ownership (hence its shareholders). This means that although the shareholder(s) in the joint-stock company may also work for the company as employees or by contract, when they act as shareholders they are always exterior to the company, which may help keep ownership business-oriented and impersonal. </p><p>Provided sales and assets exist within the company, a joint-stock company is effectively a forum for three- party trading: Owners, i.e. shareholders, are seeking financial funds (profits) and offer economic assets, in the form of capital. Employees, contractors and other contracted parties seek compensation and offer labor for this. Utilisers, ie customers, clients and other stakeholders, seek products and services, and offer financial funds for this. </p><p>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.<sup id="cite_ref-economicdiscussion_3-1" class="reference"><a href="#cite_note-economicdiscussion-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Early_joint-stock_companies">Early joint-stock companies</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=2" title="Edit section: Early joint-stock companies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="China">China</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=3" title="Edit section: China"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Further information: <a href="/wiki/Economy_of_the_Song_dynasty" title="Economy of the Song dynasty">Economy of the Song dynasty</a></div> <p>The earliest records of joint-stock companies appear in China during the <a href="/wiki/Tang_dynasty" title="Tang dynasty">Tang</a> and <a href="/wiki/Song_Dynasty" class="mw-redirect" title="Song Dynasty">Song dynasties</a>. The Tang dynasty saw the development of the <i>heben</i>, 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 <i>douniu</i>, a large pool of shareholders with management in the hands of <i>jingshang</i>, 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.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote"><p>The operation of these joint investment partnerships can be examined in a mathematical problem included in the <a href="/wiki/Mathematical_Treatise_in_Nine_Sections" title="Mathematical Treatise in Nine Sections">Mathematical treatise in nine sections (<i>Shu-shu chiu-chang</i>)</a> (1247 ed.) of <a href="/wiki/Qin_Jiushao" title="Qin Jiushao">Ch'in Chiu-shao</a> (c.1202–61). Although the dealings it describes are perhaps more complex than those practiced a century earlier, it essentially deals with a kind of investment and division of profits that for sure would have been made in the twelfth if not also the eleventh century: a four-party partnership that collectively made an investment (of 424,000 strings of cash) in a Chinese trading venture to southeast Asia. Each party's original investment consisted of precious metals like silver and gold and commodities like salt, paper, and monk certificates (and their accruing tax exemption). Yet the value of their individual investments varied considerably, as much as eightfold. Likewise, each party's share of the profits varied greatly, evidently in proportion to its overall share in the total investment. While social and family ties may have shaped the circle of potential coinvestors, they affected little, if at all, an investor's eventual share of the profits, or losses.<sup id="cite_ref-FOOTNOTEChafee2015405_5-0" class="reference"><a href="#cite_note-FOOTNOTEChafee2015405-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup></p><div class="templatequotecite">— <cite>Joseph P. McDermott and Shiba Yoshinobu</cite></div></blockquote> <div class="mw-heading mw-heading3"><h3 id="Europe">Europe</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=4" title="Edit section: Europe"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:Stora_Kopparberg_1288.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/4/4b/Stora_Kopparberg_1288.jpg/250px-Stora_Kopparberg_1288.jpg" decoding="async" width="250" height="199" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/4b/Stora_Kopparberg_1288.jpg/375px-Stora_Kopparberg_1288.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/4b/Stora_Kopparberg_1288.jpg/500px-Stora_Kopparberg_1288.jpg 2x" data-file-width="704" data-file-height="560" /></a><figcaption>The transfer letter from 1288 through which Bishop Peter of Västerås reacquires an eighth of Tiskasjöberg, Kopparberget. The original can be found at Riksarkivet (National Archive) in Stockholm.</figcaption></figure> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:VOC_aandeel_9_september_1606.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/VOC_aandeel_9_september_1606.jpg/200px-VOC_aandeel_9_september_1606.jpg" decoding="async" width="200" height="146" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/VOC_aandeel_9_september_1606.jpg/300px-VOC_aandeel_9_september_1606.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ed/VOC_aandeel_9_september_1606.jpg/400px-VOC_aandeel_9_september_1606.jpg 2x" data-file-width="1826" data-file-height="1329" /></a><figcaption>One of the oldest known <a href="/wiki/Stock_certificate" title="Stock certificate">stock certificates</a>, issued by the <a href="/wiki/Vereenigde_Oost-Indische_Compagnie" class="mw-redirect" title="Vereenigde Oost-Indische Compagnie">VOC</a> chamber of <a href="/wiki/Enkhuizen" title="Enkhuizen">Enkhuizen</a>, dated 9 Sep 1606<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></figcaption></figure><p>Finding the earliest joint-stock company is a matter of definition. An early form of joint-stock company was the medieval <a href="/wiki/Commenda" title="Commenda">commenda</a>, although it was usually employed for a single commercial expedition.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> Around 1350 in <a href="/wiki/France" title="France">France</a> at <a href="/wiki/Toulouse" title="Toulouse">Toulouse</a>, 96 shares of the <i>Société des Moulins du Bazacle</i>, or <a href="/wiki/Bazacle_Milling_Company" title="Bazacle Milling Company">Bazacle Milling Company</a> 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.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/Sweden" title="Sweden">Swedish</a> company <a href="/wiki/Stora" class="mw-redirect" title="Stora">Stora</a> has documented a stock transfer for an eighth of the company (or more specifically, the mountain in which the <a href="/wiki/Copper" title="Copper">copper</a> resource was available) as early as 1288.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2022)">citation needed</span></a></i>]</sup> </p><p>In more recent history, the earliest joint-stock company recognized in <a href="/wiki/Kingdom_of_England" title="Kingdom of England">England</a> was the <a href="/wiki/Company_of_Merchant_Adventurers_to_New_Lands" title="Company of Merchant Adventurers to New Lands">Company of Merchant Adventurers to New Lands</a>, founded in 1551 with 240 shareholders. It became the <a href="/wiki/Muscovy_Company" title="Muscovy Company">Muscovy Company</a>, which had a monopoly on trade between <a href="/wiki/Tsardom_of_Russia" title="Tsardom of Russia">Russia</a> and <a href="/wiki/Kingdom_of_England" title="Kingdom of England">England</a>, when <a href="/wiki/Royal_charter" title="Royal charter">royal charter</a> was granted in 1555. The most notable joint-stock company from the <a href="/wiki/British_Isles" title="British Isles">British Isles</a> was the <a href="/wiki/East_India_Company" title="East India Company">East India Company</a>, which was granted a <a href="/wiki/Royal_charter" title="Royal charter">royal charter</a> by <a href="/wiki/Elizabeth_I" title="Elizabeth I">Queen Elizabeth I</a> on December 31, 1600 with the intention of establishing trade on the <a href="/wiki/Indian_subcontinent" title="Indian subcontinent">Indian subcontinent</a>. The charter effectively granted the newly formed <i>Honourable East India Company</i> a fifteen-year <a href="/wiki/Monopoly" title="Monopoly">monopoly</a> on all English trade in the <a href="/wiki/East_Indies" title="East Indies">East Indies</a>.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p><p>Soon afterwards, in 1602, the <a href="/wiki/Dutch_East_India_Company" title="Dutch East India Company">Dutch East India Company</a> issued shares that were made tradable on the <a href="/wiki/Euronext#Amsterdam_(1602–2000)" title="Euronext">Amsterdam Stock Exchange</a>. 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.<sup id="cite_ref-John_F._Padgett_2012._p._227_12-0" class="reference"><a href="#cite_note-John_F._Padgett_2012._p._227-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> The joint-stock company became a more viable financial structure than previous <a href="/wiki/Guild" title="Guild">guilds</a> or state-regulated companies. The first joint-stock companies to be implemented in the <a href="/wiki/Americas" title="Americas">Americas</a> were the <a href="/wiki/London_Company" class="mw-redirect" title="London Company">London Company</a> and the <a href="/wiki/Plymouth_Company" title="Plymouth Company">Plymouth Company</a>.<sup id="cite_ref-John_F._Padgett_2012._p._227_12-1" class="reference"><a href="#cite_note-John_F._Padgett_2012._p._227-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p><p>Transferable shares aim to achieve positive returns on <a href="/wiki/Equity_(finance)" title="Equity (finance)">equity</a>, which is evidenced by investment in companies like the East India Company, which used the financing model to manage their trade on the <a href="/wiki/Indian_subcontinent" title="Indian subcontinent">Indian subcontinent</a>. 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 <a href="/wiki/Working_capital" title="Working capital">working capital</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.<sup id="cite_ref-John_F._Padgett_2012._p._227_12-2" class="reference"><a href="#cite_note-John_F._Padgett_2012._p._227-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:British_East_India_Company_flag.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/32/British_East_India_Company_flag.svg/250px-British_East_India_Company_flag.svg.png" decoding="async" width="250" height="125" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/32/British_East_India_Company_flag.svg/375px-British_East_India_Company_flag.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/32/British_East_India_Company_flag.svg/500px-British_East_India_Company_flag.svg.png 2x" data-file-width="720" data-file-height="360" /></a><figcaption>The flag of the East India Company, which is speculated to have influenced the design of the <a href="/wiki/Grand_Union_Flag" title="Grand Union Flag">Grand Union Flag</a><sup id="cite_ref-fawcett_13-0" class="reference"><a href="#cite_note-fawcett-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup></figcaption></figure> <p>However, in general, <a href="/wiki/Incorporation_(business)" title="Incorporation (business)">incorporation</a> was possible by <a href="/wiki/Royal_charter" title="Royal charter">royal charter</a> or <a href="/wiki/Local_and_Personal_Acts_of_Parliament_in_the_United_Kingdom" class="mw-redirect" title="Local and Personal Acts of Parliament in the United Kingdom">private act</a>, and it was limited because of the government's jealous protection of the privileges and advantages thereby granted.<sup id="cite_ref-John_F._Padgett_2012._p._227_12-3" class="reference"><a href="#cite_note-John_F._Padgett_2012._p._227-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p><p>As a result of the rapid expansion of capital-intensive enterprises in the course of the <a href="/wiki/Industrial_Revolution" title="Industrial Revolution">Industrial Revolution</a> in Europe and the United States, many businesses came to be operated as <a href="/wiki/Unincorporated_association" title="Unincorporated association">unincorporated associations</a> or extended <a href="/wiki/Partnership" title="Partnership">partnerships</a>, with large numbers of members. Nevertheless, membership of such associations was usually for a short term so their nature was constantly changing.<sup id="cite_ref-John_F._Padgett_2012._p._227_12-4" class="reference"><a href="#cite_note-John_F._Padgett_2012._p._227-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p><p>Consequently, registration and incorporation of companies, without specific legislation, was introduced by the <a href="/wiki/Joint_Stock_Companies_Act_1844" title="Joint Stock Companies Act 1844">Joint Stock Companies Act 1844</a>. 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 <i><a href="/w/index.php?title=Hallett_v_Dowdall&action=edit&redlink=1" class="new" title="Hallett v Dowdall (page does not exist)">Hallett v Dowdall</a></i>, the <a href="/wiki/Court_of_the_Exchequer" class="mw-redirect" title="Court of the Exchequer">Court of the Exchequer</a> held that such clauses bound people who have notice of them. Four years later, the <a href="/wiki/Joint_Stock_Companies_Act_1856" title="Joint Stock Companies Act 1856">Joint Stock Companies Act 1856</a> 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 <i><a href="/wiki/Salomon_v_A_Salomon_%26_Co_Ltd" title="Salomon v A Salomon & Co Ltd">Salomon v A Salomon & Co Ltd</a></i> established that a company with legal liability, not being a partnership, had a distinct <a href="/wiki/Legal_personality" class="mw-redirect" title="Legal personality">legal personality</a> that was separate from that of its individual shareholders.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (November 2020)">citation needed</span></a></i>]</sup> </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><table class="sidebar sidebar-collapse nomobile nowraplinks vcard hlist"><tbody><tr><td class="sidebar-pretitle">This article is part of <a href="/wiki/Category:Corporate_law" title="Category:Corporate law">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle"><a href="/wiki/Corporate_law" title="Corporate law">Corporate law</a></th></tr><tr><td class="sidebar-image"><span typeof="mw:File"><a href="/wiki/File:Society.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Society.svg/200px-Society.svg.png" decoding="async" width="200" height="79" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Society.svg/300px-Society.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Society.svg/400px-Society.svg.png 2x" data-file-width="96" data-file-height="38" /></a></span></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">By jurisdiction</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Anguillan_company_law" title="Anguillan company law">Anguilla</a></li> <li><a href="/wiki/Australian_corporate_law" title="Australian corporate law">Australia</a></li> <li><a href="/wiki/British_Virgin_Islands_company_law" title="British Virgin Islands company law">BVI</a></li> <li><a href="/wiki/Canadian_corporate_law" title="Canadian corporate law">Canada</a></li> <li><a href="/wiki/Cayman_Islands_company_law" title="Cayman Islands company law">Cayman Islands</a></li> <li><a href="/wiki/Indian_company_law" title="Indian company law">India</a></li> <li><a href="/wiki/South_African_company_law" title="South African company law">South Africa</a></li> <li><a href="/wiki/United_Kingdom_company_law" title="United Kingdom company law">UK</a></li> <li><a href="/wiki/United_States_corporate_law" title="United States corporate law">United States</a></li> <li><a href="/wiki/Corporate_law_in_Vietnam" title="Corporate law in Vietnam">Vietnam</a></li> <li><br /><a href="/wiki/European_corporate_law" class="mw-redirect" title="European corporate law">European Union</a> <ul><li><a href="/wiki/French_company_law" title="French company law">France</a></li> <li><a href="/wiki/German_company_law" title="German company law">Germany</a></li></ul></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">General corporate forms</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Company" title="Company">Company</a></li> <li><a href="/wiki/Conglomerate_(company)" title="Conglomerate (company)">Conglomerate</a></li> <li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li> <li><a href="/wiki/Corporation" title="Corporation">Corporation</a></li> <li><a href="/wiki/Holding_company" title="Holding company">Holding company</a></li> <li><a class="mw-selflink selflink">Joint-stock</a></li> <li><a href="/wiki/Partnership" title="Partnership">Partnership</a> <ul><li><a href="/wiki/General_partnership" title="General partnership">General</a></li> <li><a href="/wiki/Limited_partnership" title="Limited partnership">Limited</a></li> <li><a href="/wiki/Limited_liability_partnership" title="Limited liability partnership">Limited liability</a></li></ul></li> <li><a href="/wiki/Private_limited_company" title="Private limited company">Private limited</a></li> <li><a href="/wiki/Shell_corporation" title="Shell corporation">Shell corporation</a></li> <li><a href="/wiki/Shelf_corporation" title="Shelf corporation">Shelf corporation</a></li> <li><a href="/wiki/Sole_proprietorship" title="Sole proprietorship">Sole proprietorship</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)"><a href="/wiki/List_of_legal_entity_types_by_country" title="List of legal entity types by country">Corporate forms<br />by jurisdiction</a></div><div class="sidebar-list-content mw-collapsible-content"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading"> <a href="/wiki/European_corporate_law" class="mw-redirect" title="European corporate law">European Union</a></th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Societas_Europaea" title="Societas Europaea"><i>Societas</i> <span style="font-size:85%;">(SE)</span></a></li> <li><a href="/wiki/Societas_cooperativa_Europaea" title="Societas cooperativa Europaea"><i>Societas cooperativa</i> <span style="font-size:85%;">(SCE)</span></a></li> <li><a href="/wiki/Societas_privata_Europaea" title="Societas privata Europaea"><i>Societas privata</i> <span style="font-size:85%;">(SPE)</span></a></li> <li><a href="/wiki/Societas_unius_personae" title="Societas unius personae"><i>Societas unius personae</i> <span style="font-size:85%;">(SUP)</span></a></li> <li><a href="/wiki/European_economic_interest_grouping" title="European economic interest grouping">Economic interest grouping <span style="font-size:85%;">(EEIG)</span></a></li></ul></td> </tr><tr><th class="sidebar-heading"> <span class="nowrap">UK / Ireland / Commonwealth</span></th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Charitable_incorporated_organisation" title="Charitable incorporated organisation">Charitable incorporated organisation (England and Wales) <span style="font-size:85%;">(CIO)</span></a></li> <li><a href="/wiki/Scottish_charitable_incorporated_organisation" title="Scottish charitable incorporated organisation">Scottish charitable incorporated organisation <span style="font-size:85%;">(SCIO)</span></a></li> <li><a href="/wiki/Community_interest_company" title="Community interest company">Community interest company <span style="font-size:85%;">(CIC)</span></a></li> <li><a href="/wiki/Industrial_and_provident_society" title="Industrial and provident society">Industrial and provident society <span style="font-size:85%;">(IPS)</span></a></li> <li><br /><a href="/wiki/Limited_company" title="Limited company">Limited company <span style="font-size:85%;">(Ltd.)</span></a> <ul><li><a href="/wiki/Private_company_limited_by_guarantee" class="mw-redirect" title="Private company limited by guarantee">by guarantee</a></li> <li><a href="/wiki/Private_company_limited_by_shares" title="Private company limited by shares">by shares</a></li> <li><a href="/wiki/Proprietary_company" title="Proprietary company">proprietary</a></li> <li><a href="/wiki/Public_limited_company" title="Public limited company">public</a></li></ul></li> <li><a href="/wiki/Unlimited_company" title="Unlimited company">Unlimited company</a></li></ul></td> </tr><tr><th class="sidebar-heading"> United States</th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Benefit_corporation" title="Benefit corporation">Benefit corporation</a></li> <li><a href="/wiki/C_corporation" title="C corporation">C corporation</a></li> <li><a href="/wiki/Limited_liability_company" title="Limited liability company">Limited liability company <span style="font-size:85%;">(LLC)</span></a> <ul><li><a href="/wiki/Low-profit_limited_liability_company" title="Low-profit limited liability company">Low-profit LLC</a></li></ul></li> <li><a href="/wiki/Series_LLC" title="Series LLC">Series LLC</a></li> <li><a href="/wiki/Limited_liability_limited_partnership" title="Limited liability limited partnership">Limited liability limited partnership <span style="font-size:85%;">(LLLP)</span></a></li> <li><a href="/wiki/S_corporation" title="S corporation">S corporation</a></li> <li><span class="nowrap"><a href="/wiki/Delaware_General_Corporation_Law" title="Delaware General Corporation Law">Delaware corporation</a> / <a href="/wiki/Delaware_statutory_trust" title="Delaware statutory trust">statutory trust</a></span></li> <li><a href="/wiki/Massachusetts_business_trust" title="Massachusetts business trust">Massachusetts business trust</a></li> <li><a href="/wiki/Nevada_corporation" title="Nevada corporation">Nevada corporation</a></li></ul></td> </tr><tr><th class="sidebar-heading"> Others</th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Aktiebolag" title="Aktiebolag"><i>Aktiebolag</i> <span style="font-size:85%;">(AB)</span></a></li> <li><a href="/wiki/Aktiengesellschaft" title="Aktiengesellschaft"><i>Aktiengesellschaft</i> <span style="font-size:85%;">(AG)</span></a></li> <li><a href="/wiki/Ansvarlig_selskap" title="Ansvarlig selskap"><i>Ansvarlig selskap</i> <span style="font-size:85%;">(ANS)</span></a></li> <li><a href="/wiki/Aktieselskab" title="Aktieselskab"><i>Aktieselskab</i> <span style="font-size:85%;">(A/S)</span></a></li> <li><a href="/wiki/Aksjeselskap" title="Aksjeselskap"><i>Aksjeselskap</i> <span style="font-size:85%;">(AS)</span></a></li> <li><a href="/wiki/Gesellschaft_mit_beschr%C3%A4nkter_Haftung" class="mw-redirect" title="Gesellschaft mit beschränkter Haftung"><i>Gesellschaft mit beschränkter Haftung</i> <span style="font-size:85%;">(GmbH)</span></a></li> <li><a href="/wiki/Kabushiki_gaisha" title="Kabushiki gaisha"><i>Kabushiki gaisha</i> <span style="font-size:85%;">(K.K.)</span></a></li> <li><a href="/wiki/Naamloze_vennootschap" title="Naamloze vennootschap"><i>Naamloze vennootschap</i> <span style="font-size:85%;">(N.V.)</span></a></li> <li><a href="/wiki/Osakeyhti%C3%B6" title="Osakeyhtiö"><i>Osakeyhtiö</i> <span style="font-size:85%;">(Oy)</span></a></li> <li><a href="/wiki/S.A._(corporation)" title="S.A. (corporation)">S.A.</a></li> <li><a href="/wiki/Soci%C3%A9t%C3%A9_%C3%A0_responsabilit%C3%A9_limit%C3%A9e" title="Société à responsabilité limitée"><i>Société à responsabilité limitée</i> <span style="font-size:85%;">(SARL)</span></a></li> <li><a href="/wiki/Types_of_business_entity" class="mw-redirect" title="Types of business entity">more...</a></li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">Doctrines</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Business_judgment_rule" title="Business judgment rule">Business judgment rule</a></li> <li><a href="/wiki/Corporate_governance" title="Corporate governance">Corporate governance</a></li> <li><a href="/wiki/De_facto_corporation_and_corporation_by_estoppel" title="De facto corporation and corporation by estoppel"><i>De facto</i> and estoppel corporations</a></li> <li><a href="/wiki/Internal_affairs_doctrine" title="Internal affairs doctrine">Internal affairs doctrine</a></li> <li><a href="/wiki/Limited_liability" title="Limited liability">Limited liability</a></li> <li><a href="/wiki/Tag-along_right" title="Tag-along right">Tag-along right</a></li> <li><a href="/wiki/Drag-along_right" title="Drag-along right">Drag-along right</a></li> <li><a href="/wiki/Piercing_the_corporate_veil" title="Piercing the corporate veil">Piercing the corporate veil</a></li> <li><a href="/wiki/Rochdale_Principles" title="Rochdale Principles">Rochdale Principles</a></li> <li><i><a href="/wiki/Ultra_vires" title="Ultra vires">Ultra vires</a></i></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">Related areas</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Beneficial_ownership" title="Beneficial ownership">Beneficial ownership</a></li> <li><a href="/wiki/Civil_procedure" title="Civil procedure">Civil procedure</a></li> <li><a href="/wiki/Contract" title="Contract">Contract</a></li> <li><a href="/wiki/List_of_company_registers" class="mw-redirect" title="List of company registers">Corporate registers</a></li> <li><a href="/wiki/Registered_agent" title="Registered agent">Registered agent</a></li></ul></div></div></td> </tr><tr><td class="sidebar-below"> <ul><li><a href="/wiki/Portal:Companies" title="Portal:Companies">Company portal</a></li> <li><a href="/wiki/Portal:Law" title="Portal:Law">Law portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Corporate_law" title="Template:Corporate law"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Corporate_law" title="Template talk:Corporate law"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Corporate_law" title="Special:EditPage/Template:Corporate law"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <div class="mw-heading mw-heading2"><h2 id="Corporate_law">Corporate law</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=5" title="Edit section: Corporate law"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Corporate_law" title="Corporate law">Corporate law</a></div> <p>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 <a href="/wiki/Lord_Chancellor" title="Lord Chancellor">Lord Chancellor</a> <a href="/wiki/Richard_Haldane,_1st_Viscount_Haldane" title="Richard Haldane, 1st Viscount Haldane">Haldane</a>, </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p>...a corporation is an abstraction. It has no mind of its own any more than it has a body of its own; its active and directing will must consequently be sought in the person of somebody who is really the directing mind and will of the corporation, the very ego and centre of the personality of the corporation.</p><div class="templatequotecite">— <cite><i><a href="/wiki/Lennard%27s_Carrying_Co_Ltd_v_Asiatic_Petroleum_Co_Ltd" title="Lennard's Carrying Co Ltd v Asiatic Petroleum Co Ltd">Lennard's Carrying Co Ltd v Asiatic Petroleum Co Ltd</a></i> [1915] AC 705</cite></div></blockquote> <p>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.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p><p>The regulations most favorable to <a href="/wiki/Incorporation_(business)" title="Incorporation (business)">incorporation</a> include: </p> <table class="wikitable"> <tbody><tr> <th>Regulation </th> <th>Description </th></tr> <tr> <td>Limited liability </td> <td>Unlike a <a href="/wiki/Partnership" title="Partnership">partnership</a> or <a href="/wiki/Sole_proprietorship" title="Sole proprietorship">sole proprietorship</a>, shareholders of a modern business corporation have "limited" <a href="/wiki/Legal_liability" title="Legal liability">liability</a> for the corporation's debts and obligations.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> As a result, their losses cannot exceed the amount that they contributed to the corporation as dues or payment for <a href="/wiki/Shares" class="mw-redirect" title="Shares">shares</a>. That enables corporations to "socialize their costs" for the primary benefit of shareholders; to socialize a cost is to spread it to society in general.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> The economic rationale is that it allows anonymous trading in the shares of the corporation by eliminating the corporation's creditors as a stakeholder in such a transaction. Without limited liability, a creditor would probably not allow any share to be sold to a buyer at least as creditworthy as the seller. Limited liability further allows corporations to raise large amounts of finance for their enterprises by combining funds from many owners of stock. Limited liability reduces the amount that a shareholder can lose in a company. That increases the attraction to potential shareholders and so increases both the number of willing shareholders and the amount they are likely to invest. However, some jurisdictions also permit another type of corporation in which shareholders' liability is unlimited, for example the <a href="/wiki/Unlimited_liability_corporation" title="Unlimited liability corporation">unlimited liability corporation</a> in two provinces of Canada, and the <a href="/wiki/Unlimited_company" title="Unlimited company">unlimited company</a> in the United Kingdom. </td></tr> <tr> <td>Perpetual lifetime </td> <td>Another advantage is that the <a href="/wiki/Assets" class="mw-redirect" title="Assets">assets</a> and structure of the corporation may continue beyond the lifetimes of its shareholders and bondholders. That allows stability and the accumulation of capital, which is thus available for investment in larger and longer-lasting projects than if the corporate assets were subject to <a href="/wiki/Dissolution_(law)" title="Dissolution (law)">dissolution</a> and <a href="/wiki/Liquidation" title="Liquidation">distribution</a>. That was also important in <a href="/wiki/Medieval" class="mw-redirect" title="Medieval">medieval</a> times, when land donated to the Church (a corporation) would not generate the feudal fees that a lord could claim upon a landholder's death: see <a href="/wiki/Statute_of_Mortmain" class="mw-redirect" title="Statute of Mortmain">Statute of Mortmain</a>. (However a corporation can be dissolved by a government authority by putting an end to its existence as a legal entity. That rarely happens unless the company breaks the law, for example, fails to meet annual filing requirements or, in certain circumstances, if the company requests dissolution.) </td></tr></tbody></table> <div class="mw-heading mw-heading3"><h3 id="Financial_disclosure">Financial disclosure</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=6" title="Edit section: Financial disclosure"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In many jurisdictions, corporations whose shareholders benefit from limited liability are required to publish annual <a href="/wiki/Financial_statements" class="mw-redirect" title="Financial statements">financial statements</a> and other data so that creditors who do business with the corporation are able to assess the creditworthiness of the corporation and cannot enforce claims against shareholders.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> Shareholders, therefore, experience some loss of privacy in return for limited liability. That requirement generally applies in Europe, but not in <a href="/wiki/Common_law" title="Common law">common law</a> jurisdictions, except for publicly traded corporations (for which financial disclosure is required for investor protection). </p> <div class="mw-heading mw-heading3"><h3 id="Corporate_taxation">Corporate taxation</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=7" title="Edit section: Corporate taxation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Corporate_tax" title="Corporate tax">Corporate tax</a></div> <p>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 "<a href="/wiki/Double_taxation" title="Double taxation">double taxation</a>" 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. </p><p>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, <a href="/wiki/S_corporation" title="S corporation">S corporations</a> in the US). </p> <div class="mw-heading mw-heading2"><h2 id="Closely_held_corporations_and_publicly_traded_corporations">Closely held corporations and publicly traded corporations</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=8" title="Edit section: Closely held corporations and publicly traded corporations"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The institution most often referenced by the word "corporation" is <a href="/wiki/Publicly_held_company" class="mw-redirect" title="Publicly held company">publicly traded</a>, which means that the company's shares are traded on a public stock exchange (for example, the <a href="/wiki/New_York_Stock_Exchange" title="New York Stock Exchange">New York Stock Exchange</a> or <a href="/wiki/Nasdaq" title="Nasdaq">Nasdaq</a> 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. </p><p>However, the majority of corporations are <a href="/wiki/Privately_held_company" title="Privately held company">privately held</a>, 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. </p><p>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. </p><p>However, publicly traded companies also have advantages over their closely held counterparts. Publicly traded companies often have more <a href="/wiki/Working_capital" title="Working capital">working capital</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.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (August 2012)">citation needed</span></a></i>]</sup> </p><p>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.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (August 2012)">citation needed</span></a></i>]</sup> </p><p>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).<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (August 2012)">citation needed</span></a></i>]</sup> </p><p>A closely held corporation may be a <a href="/wiki/Subsidiary" title="Subsidiary">subsidiary</a> of another corporation (its <a href="/wiki/Parent_company" class="mw-redirect" title="Parent company">parent company</a>), 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 <a href="/wiki/Australia" title="Australia">Australia</a>). </p> <div class="mw-heading mw-heading2"><h2 id="By_countries">By countries</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=9" title="Edit section: By countries"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Australia">Australia</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=10" title="Edit section: Australia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Corporations_Act_2001" title="Corporations Act 2001">Corporations Act 2001</a></div> <p>In <a href="/wiki/Australia" title="Australia">Australia</a> corporations are registered and regulated by the Commonwealth Government through the <a href="/wiki/Australian_Securities_and_Investments_Commission" title="Australian Securities and Investments Commission">Australian Securities and Investments Commission</a>. Corporations law has been largely codified in the <a href="/wiki/Corporations_Act_2001" title="Corporations Act 2001">Corporations Act 2001</a>. </p> <div class="mw-heading mw-heading3"><h3 id="Brazil">Brazil</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=11" title="Edit section: Brazil"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In <a href="/wiki/Brazil" title="Brazil">Brazil</a> there are many different types of legal entities (<i><span title="Portuguese-language text"><i lang="pt">sociedades</i></span></i>), but the two most common ones commercially speaking are (i) <i><span title="Portuguese-language text"><i lang="pt">sociedade limitada</i></span></i>, identified by "Ltda." or "Limitada" after the company's name, equivalent to the British limited liability company, and (ii) <i><span title="Portuguese-language text"><i lang="pt">sociedade anônima</i></span></i> or <i><span title="Portuguese-language text"><i lang="pt">companhia</i></span></i>, 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. </p> <div class="mw-heading mw-heading3"><h3 id="Bosnia_and_Herzegovina">Bosnia and Herzegovina</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=12" title="Edit section: Bosnia and Herzegovina"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In <a href="/wiki/Bosnia_and_Herzegovina" title="Bosnia and Herzegovina">Bosnia and Herzegovina</a>, a joint-stock company is called: </p> <ul><li><b><span title="Bosnian-language romanization"><i lang="bs-Latn">dioničko društvo</i></span></b> (often abbreviated <b>d.d.</b> or <b>D.D.</b>) in both the <a href="/wiki/Bosnian_language" title="Bosnian language">Bosnian language</a> and the <a href="/wiki/Croatian_language" title="Croatian language">Croatian language</a>, while the <a href="/wiki/Serbian_language" title="Serbian language">Serbian language</a> uses:</li> <li><b><span title="Serbian-language romanization"><i lang="sr-Latn">akcionarsko društvo</i></span></b> (often abbreviated <b>a.d.</b> or <b>A.D.</b> - <a href="/wiki/Serbian_Cyrillic_alphabet" title="Serbian Cyrillic alphabet">Cyrillic alphabet</a> : <b>акционарско друштво</b> or <b>а.д.</b>).</li></ul> <p>The specified form of organization means that the company (<a href="/wiki/Private_companies" class="mw-redirect" title="Private companies">private</a> or <a href="/wiki/State-owned_enterprise" title="State-owned enterprise">state-owned</a>) is organized on the <a href="/wiki/Economy_of_Bosnia_and_Herzegovina" title="Economy of Bosnia and Herzegovina">Bosnian market</a> (Federation of BiH<sup id="cite_ref-www.rvp.ba_-_Securities_Registry_in_the_FBiH_18-0" class="reference"><a href="#cite_note-www.rvp.ba_-_Securities_Registry_in_the_FBiH-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> and RS entity<sup id="cite_ref-Central_Registry_of_Securities,_Joint_Stock_Company,_Banja_Luka,_Republic_of_Srpska,_Bosnia_and_Herzegovina_19-0" class="reference"><a href="#cite_note-Central_Registry_of_Securities,_Joint_Stock_Company,_Banja_Luka,_Republic_of_Srpska,_Bosnia_and_Herzegovina-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> level) as a legal entity that has <a href="/wiki/Share_(finance)" title="Share (finance)">shares</a> (Bosnian/Croatian: <b>dionica</b> or <i>vrijednosni papir</i>; Serbian: <b>akcija</b> or <i>hartija od vrijednosti</i> - <a href="/wiki/Serbian_Cyrillic_alphabet" title="Serbian Cyrillic alphabet">Cyrillic</a>: <b>акција</b> or <b>хартија од вриједности</b>) that can be traded in a free market or stock exchanges in the Bosnia and Herzegovina (listed in <a href="/wiki/Sarajevo_Stock_Exchange" title="Sarajevo Stock Exchange">Sarajevo Stock Exchange</a><sup id="cite_ref-SASE:_Organization_of_the_Market_20-0" class="reference"><a href="#cite_note-SASE:_Organization_of_the_Market-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> or <a href="/wiki/Banja_Luka_Stock_Exchange" title="Banja Luka Stock Exchange">Banja Luka Stock Exchange</a>). </p> <div class="mw-heading mw-heading3"><h3 id="Bulgaria">Bulgaria</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=13" title="Edit section: Bulgaria"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In <a href="/wiki/Bulgaria" title="Bulgaria">Bulgaria</a>, a joint-stock company is called a <i><span title="Bulgarian-language romanization"><i lang="bg-Latn">aktsionerno druzhestvo</i></span></i> or <i><span title="Bulgarian-language romanization"><i lang="bg-Latn">AD</i></span></i> (<a href="/wiki/Bulgarian_language" title="Bulgarian language">Bulgarian</a>: <span lang="bg"><a href="https://bg.wikipedia.org/wiki/%D0%B0%D0%BA%D1%86%D0%B8%D0%BE%D0%BD%D0%B5%D1%80%D0%BD%D0%BE_%D0%B4%D1%80%D1%83%D0%B6%D0%B5%D1%81%D1%82%D0%B2%D0%BE" class="extiw" title="bg:акционерно дружество">акционерно дружество</a></span> or <span title="Bulgarian-language text"><span lang="bg">АД</span></span>). When all shares are owned by a single shareholder the company receives the special designation of <i><span title="Bulgarian-language romanization"><i lang="bg-Latn">ednolichno aktsionerno druzhestvo</i></span></i> or <i><span title="Bulgarian-language romanization"><i lang="bg-Latn">EAD</i></span></i> (<a href="/wiki/Bulgarian_language" title="Bulgarian language">Bulgarian</a>: <span lang="bg">еднолично акционерно дружество</span> or <span title="Bulgarian-language text"><span lang="bg">ЕАД</span></span>). </p> <div class="mw-heading mw-heading3"><h3 id="Canada">Canada</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=14" title="Edit section: Canada"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Canadian_corporation" class="mw-redirect" title="Canadian corporation">Canadian corporation</a></div> <p>In <a href="/wiki/Canada" title="Canada">Canada</a> both the federal government and the <a href="/wiki/Province" title="Province">provinces</a> have corporate statutes, and thus a corporation may be incorporated either provincially or federally. Many older corporations in Canada stem from <a href="/wiki/Act_of_Parliament" class="mw-redirect" title="Act of Parliament">Acts of Parliament</a> passed before the introduction of general corporation law. The oldest corporation in Canada is the <a href="/wiki/Hudson%27s_Bay_Company" title="Hudson's Bay Company">Hudson's Bay Company</a>; though its business has always been based in Canada, its <a href="/wiki/Royal_Charter" class="mw-redirect" title="Royal Charter">Royal Charter</a> was issued in England by <a href="/wiki/Charles_II_of_England" title="Charles II of England">King Charles II</a> 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 <i><a href="/wiki/Canada_Business_Corporations_Act" title="Canada Business Corporations Act">Canada Business Corporations Act</a></i>. </p> <div class="mw-heading mw-heading3"><h3 id="Chile">Chile</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=15" title="Edit section: Chile"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The <a href="/wiki/Chile" title="Chile">Chilean</a> form of joint-stock company is called <i>Sociedad por Acciones</i> (often abbreviated "SpA"). They were created in 2007 by Law N° 20.190,<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> and they are the most recent variety of societary types, as they represent a simplified form of corporation – originally conceived for venture capital companies. </p><p>According to the Ministry of Economy's Business and Society Registry, SpAs accounted for 71.42% of new businesses in October 2023.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Czech_Republic_and_Slovakia">Czech Republic and Slovakia</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=16" title="Edit section: Czech Republic and Slovakia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The <a href="/wiki/Czech_Republic" title="Czech Republic">Czech</a> form of the public limited company is called <i><span title="Czech-language text"><i lang="cs">akciová společnost</i></span></i> (<i><span title="Czech-language text"><i lang="cs">a.s.</i></span></i>) and its private counterpart is called <i><span title="Czech-language text"><i lang="cs"><a href="/wiki/Spole%C4%8Dnost_s_ru%C4%8Den%C3%ADm_omezen%C3%BDm" title="Společnost s ručením omezeným">společnost s ručením omezeným</a></i></span></i> (<i><span title="Czech-language text"><i lang="cs">s.r.o.</i></span></i>). Their <a href="/wiki/Slovakia" title="Slovakia">Slovak</a> equivalents are called <i><span title="Slovak-language text"><i lang="sk">akciová spoločnosť</i></span></i> (<i><span title="Slovak-language text"><i lang="sk">a.s.</i></span></i>) and <i><span title="Slovak-language text"><i lang="sk">spoločnosť s ručením obmedzeným</i></span></i> (<i><span title="Slovak-language text"><i lang="sk">s.r.o.</i></span></i>).<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="German-speaking_countries">German-speaking countries</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=17" title="Edit section: German-speaking countries"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Aktiengesellschaft" title="Aktiengesellschaft">Aktiengesellschaft</a></div> <p><a href="/wiki/Germany" title="Germany">Germany</a>, <a href="/wiki/Austria" title="Austria">Austria</a>, <a href="/wiki/Switzerland" title="Switzerland">Switzerland</a> and <a href="/wiki/Liechtenstein" title="Liechtenstein">Liechtenstein</a> recognize two forms of company limited by shares: the <span title="German-language text"><i lang="de"><a href="/wiki/Aktiengesellschaft" title="Aktiengesellschaft">Aktiengesellschaft</a></i></span> (AG), analogous to <a href="/wiki/Public_limited_company" title="Public limited company">public limited companies</a> (or corporations in US/Can) in the English-speaking world, and the <span title="German-language text"><i lang="de"><a href="/wiki/Gesellschaft_mit_beschr%C3%A4nkter_Haftung" class="mw-redirect" title="Gesellschaft mit beschränkter Haftung">Gesellschaft mit beschränkter Haftung</a></i></span> (GmbH), similar to the modern <a href="/wiki/Private_limited_company" title="Private limited company">private limited company</a>. </p> <div class="mw-heading mw-heading3"><h3 id="Italy">Italy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=18" title="Edit section: Italy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Italian_Republic" class="mw-redirect" title="Italian Republic">Italy</a> recognizes three types of company limited by shares: the <a href="/wiki/Public_limited_company" title="Public limited company">public limited company</a><sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2017)">citation needed</span></a></i>]</sup> (<i><a href="/wiki/Societ%C3%A0_per_azioni" title="Società per azioni">società per azioni</a></i>, or S.p.A.), the <a href="/wiki/Private_limited_company" title="Private limited company">private limited company</a><sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2017)">citation needed</span></a></i>]</sup> (<i>società a responsabilità limitata</i>, or S.r.l.), and the publicly traded partnership<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2017)">citation needed</span></a></i>]</sup> (<i>società in accomandita per azioni</i>, or S.a.p.a.). The latter is a hybrid of the <a href="/wiki/Limited_partnership" title="Limited partnership">limited partnership</a> and public limited company, having two categories of shareholders, some with and some without limited liability, and is rarely used in practice.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2017)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="Japan">Japan</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=19" title="Edit section: Japan"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In <a href="/wiki/Japan" title="Japan">Japan</a>, both the state and local public entities under the <a href="/wiki/Local_Autonomy_Act" title="Local Autonomy Act">Local Autonomy Act</a> (now <a href="/wiki/Prefectures_of_Japan" title="Prefectures of Japan">47 prefectures</a>, made in the 19th century and <a href="/wiki/Municipalities_of_Japan" title="Municipalities of Japan">municipalities</a>) are considered to be corporations<span style="font-weight: normal"> (<span title="Japanese-language text"><span lang="ja">法人</span></span>, <span title="Hepburn transliteration"><i lang="ja-Latn">hōjin</i></span>)</span>. Non-profit corporations may be established under the <a href="/wiki/Civil_Code" class="mw-redirect" title="Civil Code">Civil Code</a>. </p><p>The term "company"<span style="font-weight: normal"> (<span title="Japanese-language text"><span lang="ja">会社</span></span>, <span title="Hepburn transliteration"><i lang="ja-Latn">kaisha</i></span>)</span> or (企業 <i>kigyō</i>) is used to refer to business corporations. The predominant form is the <i><a href="/wiki/Kabushiki_gaisha" title="Kabushiki gaisha">Kabushiki gaisha</a></i> (株式会社), used by public corporations as well as smaller enterprises. <i><a href="/wiki/Mochibun_kaisha" title="Mochibun kaisha">Mochibun kaisha</a></i> (持分会社), a form for smaller enterprises, are becoming increasingly common. Between 2002 and 2008, the <a href="/wiki/Intermediary_corporation" title="Intermediary corporation">intermediary corporation</a><span style="font-weight: normal"> (<span title="Japanese-language text"><span lang="ja">中間法人</span></span>, <span title="Hepburn transliteration"><i lang="ja-Latn">chūkan hōjin</i></span>)</span> existed to bridge the gap between for-profit companies and non-governmental and non-profit organizations. </p> <div class="mw-heading mw-heading3"><h3 id="Latvia">Latvia</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=20" title="Edit section: Latvia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In <a href="/wiki/Latvia" title="Latvia">Latvia</a>, which uses a model similar to Germany, a public stock company is called an <i><a href="/wiki/Akciju_sabiedr%C4%ABba" title="Akciju sabiedrība">akciju sabiedrība</a></i> (a/s, A/S or AS), whereas a private, 'limited liability company' is called a <i>sabiedrība ar ierobežotu atbildību</i> (SIA).<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> State-owned variants of these companies add an initial capital V (<i>valsts</i> - 'state'), as in VAS and VSIA. </p> <div class="mw-heading mw-heading3"><h3 id="Netherlands">Netherlands</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=21" title="Edit section: Netherlands"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Naamloze_vennootschap" title="Naamloze vennootschap">Naamloze vennootschap</a></div> <div class="mw-heading mw-heading3"><h3 id="Norway">Norway</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=22" title="Edit section: Norway"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In Norway, a joint-stock company is called an <i>aksjeselskap</i>, abbreviated <i>AS</i>. 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 <i>allmennaksjeselskap</i> and abbreviated <i>ASA</i>. 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. </p> <div class="mw-heading mw-heading3"><h3 id="Russia">Russia</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=23" title="Edit section: Russia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>See: <a href="/wiki/Open_joint-stock_company" title="Open joint-stock company">Open joint-stock company</a> (OJSC). </p> <div class="mw-heading mw-heading3"><h3 id="Spain">Spain</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=24" title="Edit section: Spain"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/S.A._(corporation)" title="S.A. (corporation)">S.A. (corporation)</a></div> <p>In <a href="/wiki/Spain" title="Spain">Spain</a> there are two types of companies with limited liability: (i) "S.L.", or <i>Sociedad Limitada</i> (a private <a href="/wiki/Limited_company" title="Limited company">limited company</a>), and (ii) "S.A.", or <i>Sociedad Anónima</i> (similar to a <a href="/wiki/Public_limited_company" title="Public limited company">public limited company</a>). </p> <div class="mw-heading mw-heading3"><h3 id="Ukraine">Ukraine</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=25" title="Edit section: Ukraine"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The <a href="/wiki/Ukrainian_language" title="Ukrainian language">Ukrainian</a> form of the private limited company is called товариство з обмеженою відповідальністю (ТОВ or ТзОВ). </p><p>Several types of joint stock companies (<a href="/wiki/Ukrainian_language" title="Ukrainian language">Ukrainian</a>: <span lang="uk">Акціонерне Товариство</span>, <i><span title="Ukrainian-language romanization"><i lang="uk-Latn">Aktsionerne Tovarystvo</i></span></i>) exist in <a href="/wiki/Ukraine" title="Ukraine">Ukraine</a>. Due to specifics of the Soviet economy, all enterprises in the Soviet republic as the rest of the <a href="/wiki/Soviet_Union" title="Soviet Union">Soviet Union</a> were state owned and private entrepreneurship was strictly prohibited and criminally prosecuted. Following the Gorbachev initiated broad spectrum reforms (<a href="/wiki/Perestroika" title="Perestroika">perestroika</a>), there was introduced a term of <a href="/wiki/Khozraschet" title="Khozraschet">khozraschet</a> and permission for organization of public economic entities called cooperatives. </p><p>Following the <a href="/wiki/Dissolution_of_the_Soviet_Union" title="Dissolution of the Soviet Union">dissolution of the Soviet Union</a>, Ukraine's economy, along with those of the rest of the former Soviet republics, was further liberalized. Along with private entrepreneurship, many state owned companies were privatized, primarily by the former party's <a href="/wiki/Apparatchik" title="Apparatchik">apparatchiks</a> 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. </p><p>As in the rest former Soviet republics (predominantly Russia) in Ukraine were created following commercial companies: </p> <ul><li>National Joint-stock company</li> <li>Open Joint-stock company</li> <li>Closed Joint-stock company</li></ul> <p>In 2009 further reforms were introduced and open joint-stock companies were forced to be restructured as public joint-stock company (Ukrainian: <span lang="uk">Публічне Акціонерне Товариство</span>, <i><span title="Ukrainian-language romanization"><i lang="uk-Latn">Publichne Aktsionerne Tovarystvo</i></span></i>) or private joint-stock company (Ukrainian: <span lang="uk">Приватне Акціонерне Товариство</span>, <i><span title="Ukrainian-language romanization"><i lang="uk-Latn">Pryvatne Aktsionerne Tovarystvo</i></span></i>).<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> </p><p>Minimum amount of share capital is 1,250 minimum wages (as of 1 January 2017 ₴4,000,000 or <a href="/wiki/United_States_dollar" title="United States dollar">US$</a>148,000). </p><p>Ukraine <a rel="nofollow" class="external text" href="http://www.nssmc.gov.ua/">National Securities and Stock Market Commission</a> is the main stock market state authority. </p> <div class="mw-heading mw-heading3"><h3 id="United_Kingdom">United Kingdom</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=26" title="Edit section: United Kingdom"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/United_Kingdom_company_law" title="United Kingdom company law">United Kingdom company law</a></div> <p>Most companies are regulated by the <a href="/wiki/Companies_Act_2006" title="Companies Act 2006">Companies Act 2006</a>. The most common type of company is the private <a href="/wiki/Limited_company" title="Limited company">limited company</a> ("Limited" or "Ltd"). Private limited companies can either be limited by shares or by guarantee. Other corporate forms include the <a href="/wiki/Public_limited_company" title="Public limited company">public limited company</a> ("plc") and the private <a href="/wiki/Unlimited_company" title="Unlimited company">unlimited company</a>. </p><p>Some corporations, both public and private sector, are formed by Royal Charter or Act of Parliament. </p><p>A special type of corporation is a <a href="/wiki/Corporation_sole" title="Corporation sole">corporation sole</a>, which is an office held by an individual natural person (the incumbent), but which has a continuing legal entity separate from that person. </p> <div class="mw-heading mw-heading3"><h3 id="United_States">United States</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=27" title="Edit section: United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/United_States_corporate_law" title="United States corporate law">United States corporate law</a> and <a href="/wiki/Delaware_corporation" class="mw-redirect" title="Delaware corporation">Delaware corporation</a></div> <p>Several types of conventional corporations exist in the <a href="/wiki/United_States" title="United States">United States</a>. 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. </p><p>Only a company that has been formally incorporated according to the laws of a particular state is called a "corporation." A corporation was defined in the <a href="/wiki/Dartmouth_College_case" class="mw-redirect" title="Dartmouth College case">Dartmouth College case</a> of 1819, in which <a href="/wiki/Chief_Justice_Marshall" class="mw-redirect" title="Chief Justice Marshall">Chief Justice Marshall</a> of the <a href="/wiki/Supreme_Court_of_the_United_States" title="Supreme Court of the United States">United States Supreme Court</a> stated: "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 corporations," after the section of the <a href="/wiki/Internal_Revenue_Code" title="Internal Revenue Code">Internal Revenue Code</a> that addresses the tax exemption for many of them. </p><p>In some states, such as Colorado, a corporation may represent itself <a href="/wiki/Pro_se" class="mw-redirect" title="Pro se">pro se</a> in courts of law in some situations<sup id="cite_ref-Meadowlark_Herald,_Vol._3_Iss._6_26-0" class="reference"><a href="#cite_note-Meadowlark_Herald,_Vol._3_Iss._6-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> </p><p>The <a href="/wiki/Government_of_the_United_States" class="mw-redirect" title="Government of the United States">federal government</a> can only create corporate entities pursuant to relevant powers in the <a href="/wiki/United_States_Constitution" class="mw-redirect" title="United States Constitution">U.S. Constitution</a>. 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 <a href="/wiki/Bank" title="Bank">banking</a>; under the <a href="/wiki/National_Bank_Act" title="National Bank Act">National Bank Act</a>, banks may receive charters from the federal government as <a href="/wiki/National_bank_(United_States)" title="National bank (United States)">national banks</a>, subjecting them to the regulation of the federal <a href="/wiki/Office_of_the_Comptroller_of_the_Currency" title="Office of the Comptroller of the Currency">Office of the Comptroller of the Currency</a> rather than state banking regulators. </p><p>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 <i>without</i> 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. </p><p>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. </p><p>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. </p><p>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 <a href="/wiki/Delaware_corporation" class="mw-redirect" title="Delaware corporation">Delaware</a>, for example, without being physically located there because that state has very favorable corporate tax and disclosure laws.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (August 2012)">citation needed</span></a></i>]</sup> </p><p>Companies set up for <a href="/wiki/Privacy" title="Privacy">privacy</a> or asset protection often incorporate in <a href="/wiki/Nevada" title="Nevada">Nevada</a>, which does not require disclosure of share ownership. Many states, particularly smaller ones, have modeled their corporate statutes after the <a href="/wiki/Model_Business_Corporation_Act" title="Model Business Corporation Act">Model Business Corporation Act</a>, one of many model sets of law prepared and published by the <a href="/wiki/American_Bar_Association" title="American Bar Association">American Bar Association</a>.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (August 2012)">citation needed</span></a></i>]</sup> </p><p>As <a href="/wiki/Juristic_persons" class="mw-redirect" title="Juristic persons">juristic persons</a>, 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. <sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (August 2012)">citation needed</span></a></i>]</sup> </p><p><a href="/wiki/Harvard_College" title="Harvard College">Harvard College</a>, an undergraduate school of <a href="/wiki/Harvard_University" title="Harvard University">Harvard University</a>, formally the <a href="/wiki/President_and_Fellows_of_Harvard_College" title="President and Fellows of Harvard College">President and Fellows of Harvard College</a> (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 <a href="/wiki/Massachusetts_General_Court" title="Massachusetts General Court">Great and General Court of Massachusetts</a> 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. </p><p>Many nations have modeled their own corporate laws on American business law. Corporate law in <a href="/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a>, 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 <a href="/wiki/Alaska_Native_Claims_Settlement_Act" title="Alaska Native Claims Settlement Act">Alaska Native Claims Settlement Act</a> (ANCSA), which authorized the creation of 12 regional native corporations for <a href="/wiki/Alaska_Natives" title="Alaska Natives">Alaska Natives</a> 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 <a href="/wiki/State_of_Alaska" class="mw-redirect" title="State of Alaska">State of Alaska</a> at the time of passage of ANCSA. </p> <div class="mw-heading mw-heading2"><h2 id="Other_business_entities">Other business entities</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=28" title="Edit section: Other business entities"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Types_of_business_entity" class="mw-redirect" title="Types of business entity">Types of business entity</a></div> <p>Almost every recognized type of organization carries out some economic activities (for example, the <a href="/wiki/Family_business" title="Family business">family</a>). Other organizations that may carry out activities that are generally considered to be <i>business</i> exist under the laws of various countries: </p> <ul><li><a href="/wiki/Consumers%27_cooperative" class="mw-redirect" title="Consumers' cooperative">Consumers' cooperative</a></li> <li><a href="/wiki/Holding_company" title="Holding company">Holding company</a></li> <li><a href="/wiki/Limited_company" title="Limited company">Limited company</a> (Ltd)</li> <li><a href="/wiki/Limited_liability_company" title="Limited liability company">Limited liability company</a> (LLC)</li> <li><a href="/wiki/Limited_liability_limited_partnership" title="Limited liability limited partnership">Limited liability limited partnership</a> (LLLP)</li> <li><a href="/wiki/Limited_liability_partnership" title="Limited liability partnership">Limited liability partnership</a> (LLP)</li> <li><a href="/wiki/Limited_partnership" title="Limited partnership">Limited partnership</a> (LP)</li> <li><a href="/wiki/Low-profit_limited_liability_company" title="Low-profit limited liability company">Low-profit limited liability company</a> (L3C)</li> <li><a href="/wiki/Not-for-profit_corporation" class="mw-redirect" title="Not-for-profit corporation">Not-for-profit corporation</a></li> <li><a href="/wiki/Open_joint-stock_company" title="Open joint-stock company">Open joint-stock company</a> (OJSC)</li> <li><a href="/wiki/Partnership" title="Partnership">Partnership</a></li> <li><a href="/wiki/Sole_proprietorship" title="Sole proprietorship">Sole proprietorship</a></li> <li><a href="/wiki/Trust_company" title="Trust company">Trust company</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=29" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1259569809">.mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:1px solid var(--border-color-base,#a2a9b1);padding:0.1em;background:var(--background-color-neutral-subtle,#f8f9fa)}.mw-parser-output .portalbox-entry{display:table-row;font-size:85%;line-height:110%;height:1.9em;font-style:italic;font-weight:bold}.mw-parser-output .portalbox-image{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portalbox-link{display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle}@media(min-width:720px){.mw-parser-output .portalleft{clear:left;float:left;margin:0.5em 1em 0.5em 0}.mw-parser-output .portalright{clear:right;float:right;margin:0.5em 0 0.5em 1em}}</style><ul role="navigation" aria-label="Portals" class="noprint portalbox portalborder portalright"> <li class="portalbox-entry"><span class="portalbox-image"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/2a/Industry5.svg/28px-Industry5.svg.png" decoding="async" width="28" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/2a/Industry5.svg/42px-Industry5.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/2a/Industry5.svg/56px-Industry5.svg.png 2x" data-file-width="512" data-file-height="512" /></span></span></span><span class="portalbox-link"><a href="/wiki/Portal:Companies" title="Portal:Companies">Companies portal</a></span></li></ul> <ul><li><a href="/wiki/Aktieselskab" title="Aktieselskab">Aktieselskab</a></li> <li><a href="/wiki/Public%E2%80%93private_partnership" title="Public–private partnership">Public–private partnership</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=30" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFCourtney2002" class="citation book cs1">Courtney, Thomas B. (2002). <i>The Law of Private Companies</i> (2nd ed.). Butterworths. p. 26. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/1-85475-265-0" title="Special:BookSources/1-85475-265-0"><bdi>1-85475-265-0</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Law+of+Private+Companies&rft.pages=26&rft.edition=2nd&rft.pub=Butterworths&rft.date=2002&rft.isbn=1-85475-265-0&rft.aulast=Courtney&rft.aufirst=Thomas+B.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLehmanPhelps2005" class="citation book cs1">Lehman, Jeffrey; Phelps, Shirelle (2005). <i>West's Encyclopedia of American Law, Vol. 1</i> (2 ed.). Detroit: Thomson/Gale. p. 117. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780787663742" title="Special:BookSources/9780787663742"><bdi>9780787663742</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=West%27s+Encyclopedia+of+American+Law%2C+Vol.+1&rft.place=Detroit&rft.pages=117&rft.edition=2&rft.pub=Thomson%2FGale&rft.date=2005&rft.isbn=9780787663742&rft.aulast=Lehman&rft.aufirst=Jeffrey&rft.au=Phelps%2C+Shirelle&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-economicdiscussion-3"><span class="mw-cite-backlink">^ <a href="#cite_ref-economicdiscussion_3-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-economicdiscussion_3-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.economicsdiscussion.net/joint-stock-company/advantages-and-disadvantages-of-joint-stock-company/31501">"Advantages and Disadvantages of Joint Stock Company"</a>. <i>economicsdiscussion.net</i>. 8 June 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">21 February</span> 2022</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=economicsdiscussion.net&rft.atitle=Advantages+and+Disadvantages+of+Joint+Stock+Company&rft.date=2019-06-08&rft_id=https%3A%2F%2Fwww.economicsdiscussion.net%2Fjoint-stock-company%2Fadvantages-and-disadvantages-of-joint-stock-company%2F31501&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJoe_Carlen2013" class="citation book cs1">Joe Carlen (2013). <i>A Brief History of Entrepreneurship: The Pioneers, Profiteers, and Racketeers Who Shaped Our World</i>. Columbia University Press. pp. 110–113. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0231542814" title="Special:BookSources/978-0231542814"><bdi>978-0231542814</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+Brief+History+of+Entrepreneurship%3A+The+Pioneers%2C+Profiteers%2C+and+Racketeers+Who+Shaped+Our+World&rft.pages=110-113&rft.pub=Columbia+University+Press&rft.date=2013&rft.isbn=978-0231542814&rft.au=Joe+Carlen&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-FOOTNOTEChafee2015405-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEChafee2015405_5-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFChafee2015">Chafee 2015</a>, p. 405.</span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDunkley,_Jamie2010" class="citation web cs1">Dunkley, Jamie (11 Sep 2010). <a rel="nofollow" class="external text" href="https://www.telegraph.co.uk/finance/personalfinance/investing/shares/7995143/Dutch-student-finds-worlds-oldest-share-certificate.html">"Dutch student finds world's oldest share certificate"</a>. Telegraph.co.uk<span class="reference-accessdate">. Retrieved <span class="nowrap">1 November</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Dutch+student+finds+world%27s+oldest+share+certificate&rft.pub=Telegraph.co.uk&rft.date=2010-09-11&rft.au=Dunkley%2C+Jamie&rft_id=https%3A%2F%2Fwww.telegraph.co.uk%2Ffinance%2Fpersonalfinance%2Finvesting%2Fshares%2F7995143%2FDutch-student-finds-worlds-oldest-share-certificate.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation book cs1"><a rel="nofollow" class="external text" href="https://www.worldcat.org/oclc/48438544"><i>Medieval trade in the Mediterranean world : illustrative documents</i></a>. Lopez, Robert S. (Robert Sabatino), 1910-1985., Raymond, Irving W. (Irving Woodworth), 1898-1964., Constable, Olivia Remie. New York: Columbia University Press. 2001. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-231-12356-6" title="Special:BookSources/0-231-12356-6"><bdi>0-231-12356-6</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/48438544">48438544</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Medieval+trade+in+the+Mediterranean+world+%3A+illustrative+documents&rft.place=New+York&rft.pub=Columbia+University+Press&rft.date=2001&rft_id=info%3Aoclcnum%2F48438544&rft.isbn=0-231-12356-6&rft_id=https%3A%2F%2Fwww.worldcat.org%2Foclc%2F48438544&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span><span class="cs1-maint citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_book" title="Template:Cite book">cite book</a>}}</code>: CS1 maint: others (<a href="/wiki/Category:CS1_maint:_others" title="Category:CS1 maint: others">link</a>)</span></span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFreeland2012" class="citation news cs1">Freeland, Chrystia (2012-10-13). <a rel="nofollow" class="external text" href="https://www.nytimes.com/2012/10/14/opinion/sunday/the-self-destruction-of-the-1-percent.html">"Opinion | The Self-Destruction of the 1 Percent (Published 2012)"</a>. <i>The New York Times</i>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0362-4331">0362-4331</a><span class="reference-accessdate">. Retrieved <span class="nowrap">2021-01-13</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=Opinion+%7C+The+Self-Destruction+of+the+1+Percent+%28Published+2012%29&rft.date=2012-10-13&rft.issn=0362-4331&rft.aulast=Freeland&rft.aufirst=Chrystia&rft_id=https%3A%2F%2Fwww.nytimes.com%2F2012%2F10%2F14%2Fopinion%2Fsunday%2Fthe-self-destruction-of-the-1-percent.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.euronext.com/en/raise-capital">"Raise Capital | euronext.com"</a>. <i>www.euronext.com</i><span class="reference-accessdate">. Retrieved <span class="nowrap">2023-06-28</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.euronext.com&rft.atitle=Raise+Capital+%7C+euronext.com&rft_id=https%3A%2F%2Fwww.euronext.com%2Fen%2Fraise-capital&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20160305102603/http://www.sebastienpouget.com/wp-content/uploads/sites/218/2015/07/shareholderLawsuit.pdf">"<span class="cs1-kern-left"></span>"Shareholder Lawsuit"<span class="cs1-kern-right"></span>"</a> <span class="cs1-format">(PDF)</span>. Archived from <a rel="nofollow" class="external text" href="http://www.sebastienpouget.com/wp-content/uploads/sites/218/2015/07/shareholderLawsuit.pdf">the original</a> <span class="cs1-format">(PDF)</span> on 2016-03-05<span class="reference-accessdate">. Retrieved <span class="nowrap">2016-03-02</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=%22Shareholder+Lawsuit%22&rft_id=http%3A%2F%2Fwww.sebastienpouget.com%2Fwp-content%2Fuploads%2Fsites%2F218%2F2015%2F07%2FshareholderLawsuit.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFIrwin1991" class="citation journal cs1">Irwin, Douglas A. (December 1991). <a rel="nofollow" class="external text" href="https://www.federalreserve.gov/pubs/ifdp/1990/392/ifdp392.pdf">"Mercantilism as Strategic Trade Policy: The Anglo-Dutch Rivalry for the East India Trade"</a> <span class="cs1-format">(PDF)</span>. <i>The Journal of Political Economy</i>. <b>99</b> (6). The University of Chicago Press: 1296–1314. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1086%2F261801">10.1086/261801</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2937731">2937731</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:17937216">17937216</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Journal+of+Political+Economy&rft.atitle=Mercantilism+as+Strategic+Trade+Policy%3A+The+Anglo-Dutch+Rivalry+for+the+East+India+Trade&rft.volume=99&rft.issue=6&rft.pages=1296-1314&rft.date=1991-12&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A17937216%23id-name%3DS2CID&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F2937731%23id-name%3DJSTOR&rft_id=info%3Adoi%2F10.1086%2F261801&rft.aulast=Irwin&rft.aufirst=Douglas+A.&rft_id=http%3A%2F%2Fwww.federalreserve.gov%2Fpubs%2Fifdp%2F1990%2F392%2Fifdp392.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span> at 1299.</span> </li> <li id="cite_note-John_F._Padgett_2012._p._227-12"><span class="mw-cite-backlink">^ <a href="#cite_ref-John_F._Padgett_2012._p._227_12-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-John_F._Padgett_2012._p._227_12-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-John_F._Padgett_2012._p._227_12-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-John_F._Padgett_2012._p._227_12-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-John_F._Padgett_2012._p._227_12-4"><sup><i><b>e</b></i></sup></a></span> <span class="reference-text">John F. Padgett, Walter W. Powell. The Emergence of Organizations and Markets. (Princeton University Press, 2012. Oct 14, 2012). <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/1400845556" title="Special:BookSources/1400845556">1400845556</a>, 9781400845552 p. 227</span> </li> <li id="cite_note-fawcett-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-fawcett_13-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFawcett1937" class="citation journal cs1">Fawcett, Sir Charles (1937). "The Striped Flag of the East India Company, and its connexion with the American 'Stars and Stripes'<span class="cs1-kern-right"></span>". <i>The Mariner's Mirror</i>. <b>23</b> (4): 449–476. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1080%2F00253359.1937.10657258">10.1080/00253359.1937.10657258</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Mariner%27s+Mirror&rft.atitle=The+Striped+Flag+of+the+East+India+Company%2C+and+its+connexion+with+the+American+%27Stars+and+Stripes%27&rft.volume=23&rft.issue=4&rft.pages=449-476&rft.date=1937&rft_id=info%3Adoi%2F10.1080%2F00253359.1937.10657258&rft.aulast=Fawcett&rft.aufirst=Sir+Charles&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span><span style="font-size:0.95em; font-size:95%; color: var( --color-subtle, #555 )">(subscription required)</span></span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text">Hansmann et al., <i>The Anatomy of Corporate Law</i>, pg 7.</span> </li> <li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text">A leading case in common law is <i><a href="/wiki/Salomon_v._Salomon_%26_Co." class="mw-redirect" title="Salomon v. Salomon & Co.">Salomon v. Salomon & Co.</a></i> [1897] AC 22.</span> </li> <li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-16">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHock2005" class="citation book cs1">Hock, Dee (2005). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/One_From_Many_9781605090184"><i>One from Many: VISA and the Rise of Chaordic Organization</i></a></span>. Berrett-Koehler Publishers. p. 140. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/1-57675-332-8" title="Special:BookSources/1-57675-332-8"><bdi>1-57675-332-8</bdi></a>. <q>... they have become a superb instrument for the capitalization of gain and the socialization of cost.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=One+from+Many%3A+VISA+and+the+Rise+of+Chaordic+Organization&rft.pages=140&rft.pub=Berrett-Koehler+Publishers&rft.date=2005&rft.isbn=1-57675-332-8&rft.aulast=Hock&rft.aufirst=Dee&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2FOne_From_Many_9781605090184&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://books.google.com/books?id=RulK-zdA-HwC">Hicks, A., and Goo, S.H. (2008) <i>Cases and Materials on Company Law</i> Oxford University Press</a> Chapter 4</span> </li> <li id="cite_note-www.rvp.ba_-_Securities_Registry_in_the_FBiH-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-www.rvp.ba_-_Securities_Registry_in_the_FBiH_18-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.rvp.ba/english/Home/About/english/Home/About">"Securities Registry in the FBiH"</a>. <i>www.rvp.ba</i>. www.rvp.ba<span class="reference-accessdate">. Retrieved <span class="nowrap">5 May</span> 2024</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.rvp.ba&rft.atitle=Securities+Registry+in+the+FBiH&rft_id=https%3A%2F%2Fwww.rvp.ba%2Fenglish%2FHome%2FAbout%2Fenglish%2FHome%2FAbout&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-Central_Registry_of_Securities,_Joint_Stock_Company,_Banja_Luka,_Republic_of_Srpska,_Bosnia_and_Herzegovina-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-Central_Registry_of_Securities,_Joint_Stock_Company,_Banja_Luka,_Republic_of_Srpska,_Bosnia_and_Herzegovina_19-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.crhovrs.org/index.php/en/o-nama-2/about-registry">"www.crhovrs.org - Centralni registar hartija od vrijednosti, akcionarsko društvo, Banja Luka"</a>. <i>www.crhovrs.org</i>. www.crhovrs.org<span class="reference-accessdate">. Retrieved <span class="nowrap">5 May</span> 2024</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.crhovrs.org&rft.atitle=www.crhovrs.org+-+Centralni+registar+hartija+od+vrijednosti%2C+akcionarsko+dru%C5%A1tvo%2C+Banja+Luka&rft_id=https%3A%2F%2Fwww.crhovrs.org%2Findex.php%2Fen%2Fo-nama-2%2Fabout-registry&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-SASE:_Organization_of_the_Market-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-SASE:_Organization_of_the_Market_20-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.sase.ba/v1/en-us/Market/General-Information/Organization-of-the-Market">"SASE: Organization of the Market"</a>. <i>www.sase.ba</i>. www.sase.ba<span class="reference-accessdate">. Retrieved <span class="nowrap">5 May</span> 2024</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.sase.ba&rft.atitle=SASE%3A+Organization+of+the+Market&rft_id=http%3A%2F%2Fwww.sase.ba%2Fv1%2Fen-us%2FMarket%2FGeneral-Information%2FOrganization-of-the-Market&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.bcn.cl/leychile/navegar?idNorma=261427&idVersion=2019-05-24">"Ley 20190"</a>. <i>Biblioteca del Congreso Nacional de Chile</i><span class="reference-accessdate">. Retrieved <span class="nowrap">2024-02-13</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Biblioteca+del+Congreso+Nacional+de+Chile&rft.atitle=Ley+20190&rft_id=https%3A%2F%2Fwww.bcn.cl%2Fleychile%2Fnavegar%3FidNorma%3D261427%26idVersion%3D2019-05-24&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.economia.gob.cl/2023/11/28/informe-de-creacion-de-empresas-y-cooperativas-octubre-2023.htm">"Informe de creación de empresas y cooperativas octubre 2023"</a>. <i>economia.gob.cl</i>. 28 November 2023<span class="reference-accessdate">. Retrieved <span class="nowrap">2024-02-13</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=economia.gob.cl&rft.atitle=Informe+de+creaci%C3%B3n+de+empresas+y+cooperativas+octubre+2023&rft.date=2023-11-28&rft_id=https%3A%2F%2Fwww.economia.gob.cl%2F2023%2F11%2F28%2Finforme-de-creacion-de-empresas-y-cooperativas-octubre-2023.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text"><i>Cross-Border Mergers in Europe, Vol. 1</i> edited by Dirk Van Gerven, <a href="/wiki/Cambridge_University_Press" title="Cambridge University Press">Cambridge University Press</a>, pg. 148 <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://www.worldcat.org/oclc/495475469">495475469</a></span> </li> <li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.ur.gov.lv/en/register/company-or-merchant/limited-liability-company-sia/">"Limited liability company (SIA)"</a>. <i>Register of Enterprises of Latvia</i>. 2021-07-30<span class="reference-accessdate">. Retrieved <span class="nowrap">2023-10-18</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Register+of+Enterprises+of+Latvia&rft.atitle=Limited+liability+company+%28SIA%29&rft.date=2021-07-30&rft_id=https%3A%2F%2Fwww.ur.gov.lv%2Fen%2Fregister%2Fcompany-or-merchant%2Flimited-liability-company-sia%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFThor" class="citation web cs1">Thor, Anatoliy. <a rel="nofollow" class="external text" href="http://en.clc.co.ua/registration-of-a-limited-liability-company-llc/">"Company and business formation in Ukraine"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Company+and+business+formation+in+Ukraine&rft.aulast=Thor&rft.aufirst=Anatoliy&rft_id=http%3A%2F%2Fen.clc.co.ua%2Fregistration-of-a-limited-liability-company-llc%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></span> </li> <li id="cite_note-Meadowlark_Herald,_Vol._3_Iss._6-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-Meadowlark_Herald,_Vol._3_Iss._6_26-0">^</a></b></span> <span class="reference-text">Brachfeld, Aaron, USDA (February 2012). <a rel="nofollow" class="external text" href="http://www.meadowlarkherald.blogspot.com">"Judge Boyette rules on corporate rights to self-represent"</a> <i>Meadowlark Herald</i> Volume 3 Issue 6. Retrieved February 19, 2012.</span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=31" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDavis,_J.S.1917" class="citation book cs1">Davis, J.S. (1917). <a rel="nofollow" class="external text" href="https://archive.org/details/cu31924057668380"><i>Essays in the Earlier History of American Corporations</i></a> (vols. 1–2 ed.). Cambridge, MA: Harvard University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Essays+in+the+Earlier+History+of+American+Corporations&rft.place=Cambridge%2C+MA&rft.edition=vols.+1%E2%80%932&rft.pub=Harvard+University+Press&rft.date=1917&rft.au=Davis%2C+J.S.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fcu31924057668380&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFChafee2015" class="citation cs2">Chafee, John (2015), <i>The Cambridge History of China 5-2</i></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Cambridge+History+of+China+5-2&rft.date=2015&rft.aulast=Chafee&rft.aufirst=John&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEkelund,_R.B.Tollison,_R.D.1980" class="citation journal cs1">Ekelund, R.B.; Tollison, R.D. (1980). "Mercantilist origins of the corporation". <i>Bell Journal of Economics</i>. <b>11</b> (2). The RAND Corporation: 715–720. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F3003390">10.2307/3003390</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/3003390">3003390</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Bell+Journal+of+Economics&rft.atitle=Mercantilist+origins+of+the+corporation&rft.volume=11&rft.issue=2&rft.pages=715-720&rft.date=1980&rft_id=info%3Adoi%2F10.2307%2F3003390&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F3003390%23id-name%3DJSTOR&rft.au=Ekelund%2C+R.B.&rft.au=Tollison%2C+R.D.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFisher,_F._J.1933" class="citation journal cs1">Fisher, F. J. (1933). "Some experiments in company organization in the early seventeenth century". <i>Economic History Review</i>. <b>4</b> (2). Blackwell Publishing: 177–194. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F2590601">10.2307/2590601</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2590601">2590601</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Economic+History+Review&rft.atitle=Some+experiments+in+company+organization+in+the+early+seventeenth+century&rft.volume=4&rft.issue=2&rft.pages=177-194&rft.date=1933&rft_id=info%3Adoi%2F10.2307%2F2590601&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F2590601%23id-name%3DJSTOR&rft.au=Fisher%2C+F.+J.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFreedman,_C.E.1979" class="citation book cs1">Freedman, C.E. (1979). <i>Joint-Stock Enterprise in France 1807–1867: From Privileged Company to Modern Corporation</i>. Chapel Hill: University of North Carolina Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Joint-Stock+Enterprise+in+France+1807%E2%80%931867%3A+From+Privileged+Company+to+Modern+Corporation&rft.place=Chapel+Hill&rft.pub=University+of+North+Carolina+Press&rft.date=1979&rft.au=Freedman%2C+C.E.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHunt,_B.C.1936" class="citation book cs1">Hunt, B.C. (1936). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/developmentofbus0000hunt"><i>The Development of the Business Corporation in England, 1800–1867</i></a></span>. Cambridge, MA: Harvard University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Development+of+the+Business+Corporation+in+England%2C+1800%E2%80%931867&rft.place=Cambridge%2C+MA&rft.pub=Harvard+University+Press&rft.date=1936&rft.au=Hunt%2C+B.C.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fdevelopmentofbus0000hunt&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLobban,_M.1996" class="citation journal cs1">Lobban, M. (1996). "Corporate identity and limited liability in France and England 1825–67". <i>Anglo-American Law Review</i>. <b>25</b>: 397.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Anglo-American+Law+Review&rft.atitle=Corporate+identity+and+limited+liability+in+France+and+England+1825%E2%80%9367&rft.volume=25&rft.pages=397&rft.date=1996&rft.au=Lobban%2C+M.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMayson,_S.W2005" class="citation book cs1">Mayson, S.W; et al. (2005). <i>Mayson, French & Ryan on Company Law</i> (22nd ed.). London: Oxford University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-19-928531-4" title="Special:BookSources/0-19-928531-4"><bdi>0-19-928531-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Mayson%2C+French+%26+Ryan+on+Company+Law&rft.place=London&rft.edition=22nd&rft.pub=Oxford+University+Press&rft.date=2005&rft.isbn=0-19-928531-4&rft.au=Mayson%2C+S.W&rfr_id=info%3Asid%2Fen.wikipedia.org%3AJoint-stock+company" class="Z3988"></span></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Joint-stock_company&action=edit&section=32" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1;min-width:0}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><style data-mw-deduplicate="TemplateStyles:r1237033735">@media print{body.ns-0 .mw-parser-output .sistersitebox{display:none!important}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}</style><div class="side-box side-box-right plainlinks sistersitebox"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <div class="side-box-flex"> <div class="side-box-image"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/30px-Commons-logo.svg.png" decoding="async" width="30" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/45px-Commons-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/59px-Commons-logo.svg.png 2x" data-file-width="1024" data-file-height="1376" /></span></span></div> <div class="side-box-text plainlist">Wikimedia Commons has media related to <span style="font-weight: bold; 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