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Joint stock companies offer several advantages, such as limited liability for shareholders, which protects personal assets from company debts, and the ability to raise capital by selling shares. However, they also face disadvantages, including the potential for conflicts of interest among shareholders and management, as well as regulatory complexities and costs associated with compliance. Additionally, decision-making can be slower due to the need for consensus among numerous stakeholders. Overall, while they facilitate investment and growth, they introduce challenges in governance and operational efficiency.
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