- an association of individuals in a business enterprise with transferable shares of stock, much like a corporation except that stockholders are liable for the debts of the business.
- an incorporated business with transferable shares and with shareholders having either limited or unlimited liability for debts of the business.
- a business enterprise characterized by its separate legal existence and the sharing of ownership between shareholders, whose liability is limited
- a business enterprise whose owners are issued shares of transferable stock but do not enjoy limited liability
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