Are franchise companies Joint Stock or Limited?

Answer 1

limited companies are companies which have incorporated association(it is an association of two or more people registered with registrar of companies) which is an artificial person, created by law having common seal( having an official signature for the company) and perpetual succession( company still exists or continuous existence apart from its shareholder. withdrawal of any shareholder does not affect the company)

limited companies are called joint stock companies because many people contribute capital to the company. companies, where the owner of the business allow others run their company in return for small payment or certain amount which is known as royalties, are called franchise companies. the owner is known as franchiser. and the person who pays royalty and run the business is called franchisee. so franchise and limited compnies are totally different businesses