JSC - can consist of several participants and simply divide shares, the cost and income of which is hidden from the public.

OJSC - consists of participants whose shares are open to the public and can be published.

The main difference between JSC and OJSC is the method of distribution authorized capital between the participants of the entities. Both structures pursue the same goals - accumulation and distribution of capital between shareholders.

In 2014, changes occurred in the legislation, as a result of which closed joint-stock companies are re-registered as joint-stock companies, and open joint-stock companies are changed into public joint-stock companies.

A joint stock company is a form of ownership in which the authorized capital of an enterprise is divided into shares. It may be open type And closed type. In a closed joint stock company, shares are distributed among a limited number of persons who will have pre-emptive right when selling shares to another shareholder. In an open joint stock company, shares are distributed among an unlimited number of persons.

The main differences between

• JSC(joint stock companies, which until 2014 were called JSC- closed joint stock companies) and
• OJSC(open joint stock companies, which since 2014 are called PJSC- public joint stock companies)

is the number of shareholders and the method of distribution of shares.

In a joint-stock company (formerly a closed joint-stock company), the authorized capital is divided into parts and distributed among a limited number of shareholders (no more than 50 people) who have rights to the property of the closed joint-stock company. Only founders can be shareholders.

OJSC (today they are called PJSC) authorized capital is also divided into parts, but is distributed freely among shareholders (their number is not limited). The founders can be any person or organization.

Good day.

Not so long ago, JSC was called CJSC and, in fact, this is one and the same thing, these are still the same closed joint-stock companies, where only its founders can be shareholders.

But in open joint-stock companies (OJSC), shareholders can be not only the founders, but also other persons or organizations.

In addition, the number of shareholders in an OJSC is not limited, as in a JSC (CJSC) - no more than 50.

CJSC (JSC), unlike OJSC, are not required to publish their reports,

As far as I know, now instead of OJSC we have PJSC (public joint-stock company), and instead of CJSC we have JSC (on the contrary, non-public). So your question could look like this: What is the difference between a PJSC and a JSC?

Previously, a closed joint stock company differed from an open joint stock company in that shares were alienated to persons within a certain circle, and not to anyone, regardless of the opinions of all shareholders.

Now the difference between PJSC and JSC lies in something else: not in alienation, but in the placement and circulation of shares.

Thus, in a PJSC, shares (along with securities) are public, that is, they can be placed through open subscription and also publicly traded.

In a joint stock company, shares (as well as securities) can be placed only by private subscription; they cannot be publicly traded.

Joint Stock Company(JSC), this is the same as the former CJSC - a company whose capital is divided into certain parts and distributed among a limited number of shareholders. These shareholders have certain rights to the property of this company, and also have certain responsibilities in connection with this.

Public Joint Stock Company(PJSC), the former OJSC, is a company whose authorized capital is freely distributed among shareholders who have the right to alienate their shares without the consent of other shareholders.

Two years ago, the organizational forms of enterprises underwent some changes.

Since then, JSC means the familiar CJSC to all of us, and PJSC means OJSC.

If we compare JSC and OJSC, the difference is significant, starting from the number of founders, ending with the form and the need to disclose information about oneself.

All differences are presented in more detail in the table below.



JSC is a joint stock company. OJSC is an open joint stock company. Thus, we understand that a joint stock company is not open to everyone, but in an open joint stock company, income can usually be open and almost anyone can buy them if they have free shares.

Indeed, JSC and OJSC are two big differences.

Until 2014, all companies were divided into OJSC, CJSC and LLC.

According to the Federal Law No. 99 dated May 5, 2014, the open joint-stock company (OJSC) was renamed PJSC (Public Joint-Stock Company), and CJSC (closed joint-stock companies) were named JSC (joint-stock companies). However, this is only a renaming, the essence of the functioning has not changed.

That is, PJSC shareholders have the right to operate their shares without restrictions: sell, buy, donate.

Shares of a joint-stock company may belong exclusively to the founders of this company without the right to transfer them to third parties. That is, this organization can be called a family type of capital formation.

On at the moment In the economy there are many organizational forms for carrying out entrepreneurial activities. Two abbreviations OJSC and PJSC are very common. Many people believe that these are the same thing. However, there are some differences that help to understand how a PJSC differs from an OJSC. Let's try to understand these definitions.

What is OJSC

An open joint stock company is an organizational form that generates capital by issuing shares. It is a security that allows you to determine the contribution of each participant in the creation of the company, as well as the share of the profit received. It's called dividend. Shares are issued for free sale on the securities market. They, in turn, also determine income and losses. What else are shares needed for?

• allow you to obtain the necessary funds for organizing and running the company’s activities;
• determine the contribution of all shareholders and the percentage of profit corresponding to the contribution;
• identify risks. In the event of a collapse, each shareholder loses only a share;
• shares provide voting rights at shareholder meetings.

Shareholders can freely dispose of these shares, for example, donate, sell, etc. Shares can be sold to third parties. All information about the activities of such enterprises should be known to a wide circle of the population. OJSC differs in that before registering the company, you do not have to contribute the entire authorized capital.

The founding capital cannot be less than a thousand minimum wages; the number of shareholders is not limited to a certain figure.

An OJSC may carry out activities not prohibited by law in various fields. Typically, a shareholders meeting is held once a year. To manage its activities, the company hires a director or several directors. They create a so-called collegial body.

The concept of a closed joint stock company

A closed joint stock company is one of the most common forms of business. Typically, this form is chosen when the participants are related by family ties.

The founding capital of such organizations should not be less than one hundred minimum wages, and the number of participants should not be more than 50. The state is not required to exercise unnecessary control over the activities of such a company. CJSC has its own characteristics:

• shares belong to the founders;
• no one has the right to transfer shares to third parties;
• CJSCs may not publish annual reports;
• All activities are carried out in a mode closed to the public.

Having examined the two most popular forms of entrepreneurial activity, we can directly move on to the concept of PJSC.

Since September 1, 2014, a law has been in force in Russia that has made certain changes to the Civil Code. He touched upon the content and name of organizational forms and forms of ownership. Now the name PJSC (public joint stock company) has been assigned to the OJSC. OJSCs will still exist for some time, then they are required to re-register as PJSC. ZAO therefore means Non-Public Joint Stock Company.

Despite the name change, public joint-stock companies also underwent some changes. You should not think that OJSC and PJSC are the same thing. So, what is the difference between a PJSC and an OJSC?

One of the signs of a PJSC is considered to be the free placement of bonds and shares, as well as their admission to trading on stock exchanges;

PJSCs have a more transparent policy for carrying out their activities - there is an obligation to publish lists of shareholders and reports, organize meetings of participants more often and arrange inspections. Activities become more open. This is the main point that shows how a PJSC differs from an OJSC;

Now to accompany entrepreneurial activity, no need to hire a lawyer or contact special law firms, the enterprise will use the services of registrars. They will maintain the register of shares and also certify shareholders' meetings;

Requirements for auditing are increasing.

These are the main points that determine how a PJSC differs from an OJSC. Such a decision and the entry into force of the law contribute to increasing the transparency of companies’ activities, and also impede the implementation of raider attacks.

When thinking about starting a business, a future entrepreneur must decide on the form of ownership of his company.

In the modern economy, there are quite a few organizational forms for conducting commercial activities. One of them is OJSC, or Open Joint Stock Company.

OJSC, or Open Joint Stock Company, is a form of organization of an enterprise whose capital is formed by, and shareholders have the right to freely dispose of their shares - sell, buy, donate, etc.

The legislation defines such an enterprise as public, that is, information on its activities should be available to the general public, who may become shareholders in the future. The number of shareholders of an OJSC is limited only by the number of shares issued and present on the market.

An important feature of an OJSC is that there is no requirement to deposit the entire amount of the authorized capital into the account of the enterprise before its registration - funds will be received as the issued shares are sold.

Open joint stock companies can operate in all areas of activity permitted by law. They have the right to engage in trade, industrial production, organizing music shows or teaching cutting and sewing. It is important that the activities of the JSC do not conflict with the law.


In fact, an OJSC is the same company as any other, the only difference is that it has many owners. Therefore, to manage current activities, the company hires a director or several directors who form a collegial body - the board of directors.

However, the highest authority in an OJSC is the meeting of shareholders, which is held at least once a year.

The main difference between an OJSC and an LLC is the scale of activity. To open an LLC (limited liability company), you need to contribute an authorized capital of only 10 thousand rubles, and in total no more than 50 people can become founders of the LLC. The number of co-owners of an OJSC is not limited, and its authorized capital must be no less than 1,000 minimum wages.

Another difference is the possibility of alienating shares. The co-owner of an OJSC can get rid of them at any moment without informing other shareholders.


An LLC participant must first offer his share in the enterprise to the co-owners, and only if they refuse to buy it can he offer the acquisition to third parties.

Closed joint stock company (CJSC) is a fairly common type of enterprise organization, characteristic of family companies. Its main difference from an OJSC is that it is closed: the shares of the enterprise belong only to the founders, and none of them has the right to transfer them to third parties.

If one of the co-owners decides to leave the business, he can only sell his share to the remaining owners. CJSCs have the right not to publish their reports and operate in a regime closed to the general public, while JSCs are required to annually announce the results of their activities in the press.

PJSC (Public Joint Stock Company) is a company whose shares are publicly listed on the stock market, and the results of its activities become known to the general public. Since the beginning of September 2014, the law of the Russian Federation came into force, introducing changes to some names and legal relations of legal forms of enterprise registration.

In fact, a PJSC is the same form of enterprise organization as an OJSC, but instead of “open,” the company should be called “public.” Within a certain time, all existing JSCs must undergo re-registration as PJSC.


After this, the conduct of business should become even more open: maintaining the register of shares and their owners is transferred from the legal department of the OJSC to special registrars, and every decision of the shareholders’ meeting must be certified by either a registrar or a notary.

This decision should promote greater transparency in business operations and discourage attempts at raider takeovers of enterprises.

In the modern economy of the Russian Federation, there are several forms of activity of business entities. Each enterprise chooses which one to choose to organize its activities. Joint stock companies have a number of features. Such organizations are usually divided into open and closed varieties.

In order not to get confused in concepts, you need to understand the abbreviations. Closed (ZAO) and have a number of organizational differences. The first form of business entities has now been renamed JSC - joint stock company. But what it means is a closed type.

How does a JSC differ from an OJSC is very interesting question. This determines a number of features of the functioning of enterprises. Companies have the opportunity to reorganize the company and create a JSC instead of an OJSC. This may be necessary for a number of reasons. How this happens, as well as why it is needed, should be considered in more detail.

What is a joint stock company?

To understand the difference between a JSC and an OJSC, you need to consider this form economic activity V in a general sense. Such an organization is formed by several founders. The authorized capital is formed from a certain number of shares, which are distributed among the owners. They are issued when a company is created. Moreover, the number of securities and their nominal value are immediately specified. The rules for their distribution indicate the type of organization of the enterprise.

These securities share certain rights with their owners. For the fact that the shareholder contributed a certain amount of his funds to the authorized capital (this is fixed by the share) at the end of the reporting period to receive the corresponding part net profit. This remuneration corresponds to the shareholder of the securities in the total This shareholder's income is called dividends.

The owner also has the right to take part in voting in the process of making important decisions for the company, as well as to receive part of the property in the event of its liquidation.

Rights and obligations of shareholders

When studying how a JSC differs from an OJSC, it is necessary to pay attention to the rights and responsibilities of shareholders. They are limited by certain legislative frameworks. Their liability is limited only by the value of the securities.

The risk of loss does not apply to all property of the owners. But if, in the event of bankruptcy of an enterprise, the fault of, for example, a hired director or a certain group of shareholders was established, then they bear increased responsibility. If a company does not have enough funds to pay off its debts, the perpetrators may be subject to subsidiary liability.

Shareholders may also be liable if the authorized capital of the enterprise consists of a certain part of unpaid securities.

All decisions are made at the meeting of shareholders. Voting rights have the same weight as how many shares the founder has. If it has 50%+1 share, it is controlled by one individual or legal entity.

Distinctive Features

A company is organized as a closed joint stock company if the number of shareholders does not exceed 50 people. This form is typical for medium-sized businesses. The difference between a JSC and an OJSC lies primarily in the method of distribution of shares.

In a closed joint-stock company they are purchased by a limited number of persons. The authorized capital in this case is less than 100 times the minimum wage (minimum wage).

In an OJSC the number of shareholders is unlimited. This form of management is characteristic of large businesses. Securities are sold through free sale. Information about the state of the company, its financial activities in this case it is provided publicly.

The shares are freely traded on the stock market. The size of the authorized capital in this case is not less than 1000 minimum wages.

Fundamental differences

The difference between OJSC and JSC is quite significant. First of all, the approach to the sale of shares is fundamentally different. If the JSC decides to sell part of the securities, the consent of all shareholders will be required. Moreover, they have an advantage when purchasing. OJSC sells shares freely, without notifying other participants. Therefore, the number of security holders is not limited.

JSC does not place its financial statements in the public domain. The JSC is obliged to provide such information openly. This gives everyone the opportunity to evaluate the results of the company’s activities. For this reason, investors are much more likely to provide their temporarily free funds to open-ended organizations. The closed joint-stock company is not expanding to the level of a large business.

State as founder

To understand how a JSC differs from an OJSC, it is necessary to consider the case when part of the shares is owned by the state. The founders of the company can be the governing bodies of the Russian Federation at various levels of subordination.

In this case, the organization can only be an open issue type. Information about the results of activities of such an enterprise in mandatory posted publicly. If part of the shares is owned by subjects of the governing bodies of the Russian Federation, its municipal organizations, the formation of a closed joint stock company is strictly prohibited.

This is another significant difference between the two forms of management presented. The shares are publicly traded and quoted on the stock market.

Reorganization

For certain reasons, it may be necessary to reorganize an OJSC into a JSC. This conversion can also be done in reverse side. In this case, the volume of the authorized capital changes, as well as the rights and obligations of the owners of securities.

If, based on the results of the company’s activities, its authorized capital does not exceed 1000 minimum wages, documents for reorganization should be prepared. This provides a number of benefits to the enterprise. But the reduction of own sources leads to a decrease in production.

This is a negative trend, but with a significant drop in sales volume and the market value of the company's shares, this is a necessary measure to prevent bankruptcy. The reorganization process is taken very seriously. The decision to change the form of business is made at a meeting of shareholders based on the results of the financial statements.

Preparation of documents

In the process of changing the form of business from open to closed joint stock company, no transformation is carried out. An OJSC can only be reorganized into a JSC. If there is a need for this, the board of directors prepares the necessary documentation.

For this purpose, a project is being drawn up, which includes a number of mandatory items. The company's management in this document discloses the procedure and conditions of the reorganization. Next, the process of exchanging shares of the old company for deposits and securities of the new organization is discussed.

Creation of a new society

The circle of persons among whom new securities are distributed does not exceed 50 people. A complete list of property that becomes the property of the reorganized joint-stock company is also compiled.

The meeting of shareholders approves the size of the authorized capital and appoints the managers of the new company.

Further, the state registration authorities establish the fact of termination of existence open society shareholders, and then a new closed organization is created. This will allow the company to operate in accordance with the market share it occupies. During this process, relevant documentation is recorded.

Required Documentation

There is a significant difference between a newly created and a reorganized enterprise. The main document denoting the difference between these two organizational forms of companies is succession. This document represents a transfer act or It depends on the form of the reorganization itself.

Re-registration of an OJSC into a JSC requires the collection of a certain list of documents. If shares are distributed between individuals, it is necessary to provide the commission with copies of passports and identification codes. If the owner of the securities is legal entity, you will need a copy of its registration documentation.

Next, data on the receipt of funds or property of shareholders is prepared. After this, the type of activity of the company is determined. It is assigned the corresponding OKVED codes. In order to assign a legal address to an organization, it is necessary to provide a lease agreement. If it is not there, representatives of the commission go to the location of the main production facilities of the enterprise. It is assigned a legal address.

What does the reorganization give?

Changing an OJSC to a JSC entails significant changes for the organization. First of all, the balance sheet currency is significantly reduced. With a decrease in own financial sources, the investment rating falls.

Society will be able to attract fewer credit funds. It has the right not to publicly disclose the results of its activities, but this also repels investors. All ownership of shares is recorded in the Federal Tax Service database. Wanting to sell his securities, the owner notifies the other shareholders in writing of his decision.

If they do not agree to purchase the shares, they can be sold to a new owner. The documentation collected during the creation of the company is subject to change. New data is added to it. This is a longer process.

Having considered how a JSC differs from an OJSC, it is worth noting a number of advantages of each business form. Depending on the volume of business, one or another type of object is chosen. This allows companies to organize their activities most efficiently. In constantly changing market conditions, it is possible to reorganize an OJSC into a JSC and vice versa. In some cases, this is a necessary measure that cannot be avoided.