Is joint stock company different from private and public companies? Business studies

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Solution

Joint Stock Company is of two types: Private Company and Public Company.
Basis of Difference
Private Company
Public Company
Minimum Members
2
7
Maximum Members
50
Infinite
Minimum Share Capital
2 lakhs
5 lakhs
Minimum Directors
2
3
Transferability of Shares
Restricted
Freely Transferable

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A prospectus is issued by

(a) A private company

(b) A public company seeking investment from public.

(d) A public company

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Private companies cannot raise funds from the public.

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