Distinguish between Cooperative organisation and Joint stock company.

Answer

Basis	Cooperative Organisation	Joint Stock Company
Motive	Service motive is primary. Profit earning surplus motive is secondary	Profit motive (except public enterprise) is primary. Service motive is secondary.
Regulating Act	The Cooperative Societies Act, 1912 or the State Cooperative Societies Act.	The Companies Act, 1956.
Members	Minimum-10 Maximum-Not fixed	Minimum - For a public company - 7 - For a private company- 2 Maximum - Not fixed in case of public company - 50 members in case of private company.
Members Liability	Generally limited but it may opt for unlimited liability of its members.	Limited liability to the amount of capital contribution or guarantee undertaken by a member.
Issue of Fresh Share Capital	It is done to admit new members	It is first offered to the existing shareholders.
Exemption	Exempt from paying stamp duty and registration.	No such exemption.