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What is the difference between a charter and joint stock company?
Wiki User
∙ 12y ago
A charter is a grant of rights or authority.It was usually given to people desiring to start a colony.It is a somewhat obsolete term nowadays.
A joint stock company was formed by a collection of individuals for the purpose of making a profit.
The Commonwealth of Virginia was established by a Royal Charter.
Joint stock companies played a role in trade and development of the original thirteen colonies of the future USA.
Wiki User
∙ 12y ago
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Why did the English colonies have a large degree of self government?
Each colony had a separate Charter, with specific rules as to how the government was to be conducted. For example, "the Massachusetts Bay Company, a joint-stock company resident in England, whose membership included merchants and landed gentry, received a charter from the Crown. The government of the company and the extent of its authority were clearly stated in the charter, with an unstated premise that the management o! the company and thus the charter itself would remain in England."
