What Is Joint Stock Company And Their Kinds ?

Company/Joint Stock Company/Corporation :
Company is an artificial person, created by law with a perpetual succession and common scale has separate legal entity.
1. Partnership deed is a document in which rules of partnership business have been written.
2. Perpetual Succession has no copyrights of its.
3. Share holders are owner of company.
Kinds Of Company:
1. Chartered Company
2. Statutory Company                  
3. Registered Company
1. Chartered Company:
   Word "limited" is not used with chartered company e.g. Royal Bank of Scotland or Chartered Bank of England.
2. Statutory Company:
            There are government specified companies e.g Wapda. These companies are formed by the order of president or by the order of special Parliament and its purpose is only welfare.
3. Registered Company:
                There are the companies which are formed by the companies ordinance 1984.
Important Document of Joint Stock Company :
1. MOA  (Memorandum Of Association)
2. AOA  (Article of Association)
3. Prospectus
MOA:
    It is a basic document of company. it contains fundamental conditions along with company can be incorporated. The purpose of MOA is to enable the share holders and creditors and all those who deal with it. To know the range of enterprise (organization) it includes the name clause, object clause, liability clause, capital and subscription clauses.
AOA:
     it is the second important document of the company. it is a document which contains rules and regulations of company. it can not includes any power, which is against the memorandum or company ordinance 1984.
Prospectus:
      it is the document issued by the company for raising capital. it includes any notice, advertisement or other communication to invite the general public for the purchase of shares.
Share Capital Of The Joint Stock Company:
Five types of Share capital
1. Authorized Capital
2. Issue Capital
3. Subscribed Capital
4. Called-up Capital
5. Paid-up Capital