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28 March, 08:59

These "corporations" sold shares of stock to wealthy investors in Europe; the funds were used to finance the colonization of the New World.

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  1. 28 March, 09:03
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    joint-stock company

    Explanation:

    Based on the information provided within the question it can be said that the type of corporation being mentioned is a joint-stock company. This is a business entity where all the share's of the company have been bought and are held solely by the shareholders. This allows the shareholders to transfer or sell their shares to others without affecting the companies existence.
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