Q.What is a Joint Stock Company? What are the features of it?

A Joint Stock Company is an association of persons with capital in transferable shares, features: separate legal entity, perpetual existence, common seal, limited liability, transferable shares, and ownership-management separation. ## Joint Stock Company: Meaning and Features A TS Inter 1st-year Commerce topic, aligned with the NCERT/CBSE curriculum. L.J. Lindley defines a company as 'an association of many persons who contribute money to a common stock and employ it in business, sharing the profit or loss'. Features: association of persons; separate legal entity (can sue/be sued, own property); perpetual existence (unaffected by a shareholder's death); common seal (acts as the company's signature); limited liability of shareholders; transferable shares (in a public company); separation of ownership (shareholders) and management (Board of Directors); minimum membership (2 private/7 public, max 50 private/unlimited public) …