Global Shipping Corporation and Harbor Warehouse Company transfer their property to Investment Managers, Inc., which manages the property and distributes the profits to Global Shipping and Harbor Warehouse. This form of a business organization is
Global Shipping Corporation is a joint stock company because they have investment managers. Joint stock company is a structure in which share are sold to the stockholders of the company. Overall, the shareholders select board of directors by joint voting. In a joint stock company the shareholders are allowed to sell their shares to others.
