| Co-operative Society | Joint Stock Company |
| (1) Meaning | Co-operative Society is a voluntary association of individuals which is formed for providing services to members. | Joint Stock Company is an incorporated association created by law, having an independent legal status, owned by shareholders and managed by board of directors. |
| (2) Number of Members | Minimum ten members and maximum number of members is unlimited. | Private company Minimum – 2 Maximum – 200 Public company- Minimum – 7 Maximum – No limit |
| (3) Capital | A Cooperative society has less capital as compared to Joint Stock company. | Joint Stock company has large capital. |
| (4) Management | Managing Committee manages Cooperative society. | Board of Directors manages Joint Stock company. |
| (5) Act | Co-operative Societies have to follow Cooperative Societies Act, 1912. In Maharashtra, the societies have to follow Maharashtra State Cooperative Societies Act, 1960. | Companies have to follow Indian Companies Act, 2013. |
| (6) Formation | Formation of a Co-operative society is comparatively cheaper and easier. | Formation of a Joint Stock Company is costly, difficult and time – consuming. |
| (7) Voting Right | The principle of “One member One vote” is followed. | The principle of “One share One vote” is followed. |
| (8) Motto | The main motto of a Cooperative society is to give services to the people. | The main motto of Joint Stock company is to make maximum profit. |
| (9) Transferability of Shares | Shares are not transferable. They can be surrendered to the society. | Shares of a Public Company are freely transferable. |
| (10) Remuneration | Members of Managing Committee work on honorary basis. | Board of Directors are paid salary and given fees for attending board meetings. |
| (11) Area of Business | Normally, the co-operatives have a limited area of business. | Companies have a larger area of business operation. |
| (12) Proxies | In a Cooperative society, proxies are not allowed in the meetings. | In a Joint Stock company, proxies are allowed to vote in the meetings. |
