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What is a joint-stock company?

What is a joint-stock company? Here are some definitions.

Noun
  1. (business, finance, law, Britain) A company with transferable ownership interests and limited shareholder liability.
  2. (business, finance, law, US) A company with transferable ownership interests and unlimited shareholder liability.
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Examples
What share had he in what may be a joint-stock company for the production of these plays?
He wrote extensively about the development of the joint-stock company and the rise of stockmarkets.
In a traditional capitalist joint-stock company, votes on questions of the company's direction are allotted by shares of ownership.
This was mainly based around the activities of the East India Company, a large joint-stock company based in London.
The railways are owned and run by a joint-stock company controlled by the state.
The investor in the future large complex will be a joint-stock company in which well-known business people will participate.

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