A joint-stock company is a corporate structure where capital is divided into shares and shareholders' liability is limited. This structure is typically preferred by large-scale enterprises and publicly traded companies. Shareholders, as owners of the company, are held liable only to the extent of their invested capital, thus safeguarding their personal assets.
Features and Objectives of a Joint-Stock Company
A joint-stock company can be established for any lawful economic purpose or subject. Its partnership structure provides flexibility, allowing for single-shareholder joint-stock companies where the liability of shareholders is limited to the capital they contribute.
Capital Structure and Board of Directors
The minimum capital requirement for joint-stock companies is 50,000 TL, with non-publicly traded companies requiring a starting capital of at least 100,000 TL. Capital increases can be authorized by the board of directors. The board of directors manages and represents the company, consisting of members appointed by the articles of association or elected by the general assembly for specified terms.
Rights of Board Members
Board members may receive remuneration such as fees, salaries, bonuses, commissions, and annual profit shares as determined by the articles of association or general assembly decision.
Joint-stock companies can raise capital and promote growth by offering shares to the public. With these features, joint-stock companies are significant corporate structures offering reliability and flexibility in the business world.
10.07.2024