Is there a difference between a joint stock company and a joint venture?
Yes Sowmiya, there is difference between the two entities i.e. Joint Stock Company and Joint Venture. The following points make it clear.
|Basis of Difference||Joint Stock Company||Joint Venture|
|Meaning||Form of an organisation where in group of person of an association to perform business activities together.||From of temporary partnership between two or more persons to undertake a venture for profit.|
|Act||Companies Act, 1956 applies for such companies.||No specific Act is applicable but being in the nature of partnership, Partnership Act, 1932 applies.|
|Ownership||Lies in the hands of the shareholders.||Lies in the hands of co-venturers.|