a) is a group of individuals united in a business venture with exchangeable stock shares that works mostly like a corporation, but with the exception that the shareholders are responsible for the debts of the enterprise.
b) in the United Kingdom, it is an incorporated business organization that operates with exchangeable shares and is owned by stockholders that are either partially (restricted to the nominal value of the stocks held by each individual) or completely liable for the debts of the enterprise.
In a Sentence:
After World War 2, the Philmore & Young joint stock company has built a 60-stories high office center in Chicago.
Kate Marsh has left the joint stock company, having sold all of her shares.
He found himself tremendously in debt because of the poor performance of the joint stock company where he has the majority of shares.
Synonyms and related words: shareholder, capital, business structure, shares, business enterprise