13 Facts About Joint-stock companies

Therefore, joint-stock companies are commonly known as corporations or limited companies.

Joint-stock companies is managed on behalf of the shareholders by a board of directors, elected at an annual general meeting.

The development enhanced the ability of joint-stock companies to attract capital from investors, as they could now easily dispose of their shares.

The first joint-stock companies to be implemented in the Americas were the London Company and the Plymouth Company.

Joint-stock companies paid out divisions to their shareholders by dividing up the profits of the voyage in the proportion of shares held.

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Four years later, the Joint Stock Companies Act 1856 provided for limited liability for all joint-stock companies provided, among other things, that they included the word "limited" in their company name.

Joint-stock companies profit being passed on is thus effectively taxed only at the rate of tax paid by the eventual recipient of the dividend.

However, publicly traded Joint-stock companies have advantages over their closely held counterparts.

Publicly traded Joint-stock companies often have more working capital and can delegate debt throughout all shareholders.

Ordinary joint-stock companies must have a minimum capital of NOK 30,000 upon incorporation, which was reduced from 100,000 in 2012.

Many Joint-stock 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.

In 2009 further reforms were introduced and open joint-stock companies were forced to be restructured as public joint-stock company or private joint-stock company.