Legal analysis: The difference between a joint stock limited company and a limited liability company is that a joint stock limited company is established by more than two promoters and less than 200 people, and a limited liability company is established by shareholders with less than 50 people; A limited liability company can only raise funds from sponsors, and cannot publicly raise funds, issue shares or go public; In addition to establishing limited liability companies, joint-stock companies can also raise funds from the public and go public for financing, but the establishment process is complicated.
Legal basis: People's Republic of China (PRC) Company Law.
Article 78 To establish a joint stock limited company, there shall be two or more promoters, more than half of whom shall have their domicile in China.
Article 24 A limited liability company shall be established by capital contribution of shareholders with less than 50 persons.