Joint Stock Company

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Er, um, no.

If you’re invested in a company’s stock (i.e., you bought shares), congratulations: you’re invested in a joint stock company. Joint stock companies are just companies that have stock (shares) that can be bought and sold. Joint stock companies are also just called “corporations,” “limited companies,” and even “unlimited companies,” but they all imply the same thing: shares, shares, shares.

Shareholders get to vote on measures that affect the company, but it’s mostly a board of directors that’s doing all the heavy lifting.

It’s common for joint stock companies to have a limited liability relationship with their shareholders, meaning that investors are only liable for losing the money they invested and not more. Those are called “limited companies.” “Unlimited companies” are also joint stock companies (have shares, will sell), but without limited liability.