Why were joint-stock companies created?

Joint-stock companies were created for two main reasons:

-Its main motivation is to limit the responsibility of the partners of the companies only to the percentage of shares that they own. In this way, investors are protected from possible lawsuits, making them responsible only for the part that belongs to them as owners of the shares.

-In addition, another motivation is to facilitate the investment of private capital, since investors do not have to directly buy a percentage of the company, but the shares are negotiable by themselves. This makes them have a commercial value, which if it increases increases the valuation and investment that the company receives.

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b.provides a written record of the transaction