The Joint Stock Companies Act 1844 (7 & 8 Vict. c.110) was an Act

Act of Parliament

An Act of Parliament is a statute enacted as primary legislation by a national or sub-national parliament. In the Republic of Ireland the term Act of the Oireachtas is used, and in the United States the term Act of Congress is used.In Commonwealth countries, the term is used both in a narrow...

 of the Parliament of the United Kingdom

Parliament of the United Kingdom

The Parliament of the United Kingdom of Great Britain and Northern Ireland is the supreme legislative body in the United Kingdom, British Crown dependencies and British overseas territories, located in London...

 that expanded access to the incorporation

Incorporation (business)

Incorporation is the forming of a new corporation . The corporation may be a business, a non-profit organisation, sports club, or a government of a new city or town...

 of joint-stock companies.

Before the Act, incorporation was possible only by royal charter

Royal Charter

A royal charter is a formal document issued by a monarch as letters patent, granting a right or power to an individual or a body corporate. They were, and are still, used to establish significant organizations such as cities or universities. Charters should be distinguished from warrants and...

 or private act

Local and Personal Acts of Parliament in the United Kingdom

Local and Personal Acts of Parliament are laws in the United Kingdom which apply to a particular individual or group of individuals, or corporate entity. This contrasts with a Public General Act of Parliament which applies to the entire community...

 and was limited owing to Parliament's jealous protection of the privileges and advantages thereby granted. As a result, many businesses came to be operated as unincorporated associations with possibly thousands of members.