Some individuals are born to be medical doctors, some are born to be mathematicians, some are born to be inventors, while others are born to take glorious care of children. Although a few of these jobs pay higher or require more education, all of them are equally necessary and really a lot needed in this world.
In a Joint Stock Company, the shareholders bear the risk of uncertainty. They elect a Board of Directors to handle the affairs of the company. The Board of Directors in turn, elects, one amongst them as a Managing Director or appoint a General Manager from outside on salary. Usually he will look into the day-to-day administration of the company. The directors are these individuals who hold a lot of shares.
In addition to the many good factors you made, getting the business started off on the right foot by getting it setup properly is, …