CEVAP:

Joint Stock Corporation is a capital company which is established for operating a commercial enterprise in any subject which is not prohibited by law and where the liability of the shareholders is limited with the amount of capital undertaken. The consent of Ministry of Trade is required at the establishment stage who then have the authority to supervise the activities of the company (Article 333 TCC). The shares of a joint stock company are transferable, so for a public joint stock company, the shares may be traded on a registered exchange, but for a private joint stock company, they are transferable between private parties.