each investor owning a share based on the amount of stock purchased. Joint-stock companies are created in order to finance endeavors that are too expensive for an individual or even a government to fund.
→ Partnership firm: A partnership is an association of two or more persons to carry on, as co-owners, a business and to share its profits and losses. ... It is the ideal form of organisation for the enterprise requiring moderate amount of capital and diversified managerial talent.
