To finance projects that are too expensive for an individual or even a government to pay, joint-stock firms are established.
The contemporary corporation's predecessor was the joint-stock company. Stock was sold to high net worth investors who contributed capital and assumed little risk in a joint stock venture. These businesses had previously shown success in trading endeavors. The rewards came in very quickly, and the risk was little. Joint Stock Companies were established to collect middle-class deposits for colonial financing. Plymouth Company and the London Company are a couple of these. The Proprietary colony, however, is governed by a person designated by the king.
To learn more on joint-stock company, visit:
https://brainly.com/question/4757718
#SPJ4