Closed Joint Stock Company

Closed Joint Stock Company - A closed joint stock company is company or corporation where there is a limited number of shareholders that can have stock in the company or corporation. In these companies and corporations, investors receive stocks or shares in the company or corporation, but they can be transferred and also can elect a board of directors, but since these are joint, they are held accountable for all the company or corporation's debts and obligations. In the United States, joint stock companies and corporations cannot hold real property titles. In the United Kingdom, the liability of the owners is limited to the value of the stocks or shares they hold.