Limited liability companies and joint stock limited companies are responsible for all assets of the company.
In other words, the company only undertakes limited liability externally, and the scope of "limited liability" is all assets of the company. In addition, the company no longer undertakes other property liabilities.
What's the difference between a limited liability company and a joint stock limited company?
1. There are differences between the two companies in terms of establishment conditions and raised funds. The conditions for the establishment of a limited liability company are more relaxed, and the conditions for the establishment of a joint stock limited company are more stringent;
A limited liability company can only raise funds from sponsors, but not from the public. A joint stock limited company may raise funds from the public. Limited liability companies have the highest and lowest requirements for the number of shareholders, while joint stock limited companies only have the lowest requirements for the number of shareholders, but there is no highest requirement.
2. The difficulty of share transfer between the two companies is different. In a limited liability company, shareholders have strict requirements on the transfer of their own capital contribution, which is more restricted and more difficult.
In a joint stock limited company, shareholders can freely transfer their own shares, which is not as difficult as a limited liability company. ?
3. The forms of equity certificates of the two companies are different. In a limited liability company, the shareholder's equity certificate is a capital contribution certificate and cannot be transferred or circulated;
In a joint stock limited company, the shareholder's equity certificate is stock, that is, the shares held by the shareholder are embodied in the form of stock, and the stock is a certificate issued by the company to prove that the shareholder holds shares.
Reference Link: Government official website: Company Law of People's Republic of China (PRC) and China.