Joint Stock Company

A company is an artificial person means

• It is like a real person

• It is a person created by law

A company is a separate legal entity means

• It is responsible for the actions of its shareholders.

• It can conduct business in its own name

What is common seal?

• Products sold by a company

• Services sold by a company

• The name of the company

Perpetual existence means

• If all the shareholders die, the company continues to exist

• If the shareholders dies, the company will shut down

Limited liability of shareholders

• Shareholders have to pay the debts of the company

• Shareholders only have to pay their share.