Joint-Stock Company

ProEconomica Gas Joint-Stock CompanyWhat is the difference between a regular company and a Joint – Stock Company?

Well the main differences are that a joint-stock company also known as JSC can have multiple shareholders, shareholders can appoint ,by voting, a General Director (CEO) ,that will manage the company, and it offers the possibility to earn gold.

 

 

Joint-Stock Companies main traits:

  • Can be owned by one or more players
  • A player must pay at least 10% of the JSC cost to open one
  • To become a shareholder you only need to buy 1% of the total shares
  • The first 3 players with the most shares owned will form the Executive Board/Board of Directors
  • The board of Directors can propose up to 3 shareholders for the General Director (CEO) job.
  • All shareholders can vote after the candidates are chosen
  • All shareholders have equal vote rights no matter how many shares they own
  • In case there is only one founder he will be automatically  become the General Director (CEO) and will receive a salary based on the profit of the company

The first Proeconomica Joint-Stock Companies implemented are Oil, Gas, Electricity and Water.

To open a Joint-Stock Company a player must pay 10% in gold and local currency of the JSC’s cost , once a player owns 10% of a JSC, the company will be listed on the stock market. At this point and player from the country can become a shareholder if he will buy at least 1% of the remaining shares. Because gold and currency is required once the first joint-stock company is implemented there will also be a new method to convert currency in gold, a method that will allow active players to buy shares easier., furthermore players will be able to sell shares for currency.

A joint-stock company will be active as soon as 100% of the shares are bought and it will  be active at a national level. The first 3 major shareholder will form the board of directors (executive board), they will be able to propose a player for General Director (CEO) to the rest of the shareholders. Each member of the board of directors will be able to propose 3 players, and the rest of the shareholders will vote. If one shareholder has over 51% shares he will be able to use hes veto right, to block the decision of the shareholders if he doesn’t agree with it, in that case the board of directors will have to send their proposals again.

Once the CEO is elected he will manage the company, start the production, pay the shareholders, etc.  A General Director will get a wage for hes work and he will obey the board of director whom has the power to dismiss him if hes not living up to the expectation of the board.

General Director (CEO) attributes
  • He is in charge of manufacturing
  • Buys the raw materials
  • Converts the earnings in GOLD
  • Distributes the earnings and gold to the shareholders
  • Hires employees
  • Upgrades the level of the Joint-Stock Company

Proeconomica Joint-Stock Company ShareholdersA Joint-Stock Company offers it’s shareholders dividends in gold and virtual currency based on the decisions of the board of directors. Everyday the General Director can sell a certain amount of product, based on the level o the company, to the state. The amount sold is worth about 50 gold if converted from currency therefore it generates at least 50 gold a day just from sales to the state at level 1. The General Director can choose to convert the earning into gold or distribute them as regular currency, there is a daily conversion limit of 50 gold at level 1.

 

Joint-Stock companies will be the first in a set of business models that will allow players to increase their revenue, becoming billionaires. After the Joint-Stock companies will be implemented international investment funds, corporations will follow which will allow some players to become an élite and rule the global corporations.

 

Source Official ProEconomica Blog.

 

2 Responses to Joint-Stock Company

  1. […] How To Play ProEconomicaHomeNewsBasicsCharacter StatsDepositActivitiesMy AspectMy CompanyCompanyJoint-Stock CompanyTechnologiesShareholdersMy StateMiscMiscellaneousAnno1777 « New Host & ProE Update […]

  2. […] How To Play ProEconomicaHomeNewsBasicsCharacter StatsDepositActivitiesMy AspectMy CompanyCompanyJoint-Stock CompanyTechnologiesShareholdersMy StateMiscMiscellaneousAnno1777 « Joint-Stock Company Update […]

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