Gouko (English spelling) he-gu; ho-ku

Japanese: 合股 - ごうこ（英語表記）he-gu; ho-ku

A traditional Chinese form of business based on joint investment. "Ko" means shares. Multiple investors jointly bear unlimited liability, and investors are usually related by blood or geographical location. Disposal of shares also requires mutual consent among investors. It is said to have started in the Tang and Song dynasties, and was the most common method of capital accumulation for small and medium-sized commercial and handicraft businesses in China. In modern times, some developed into joint-stock companies, but this was rare, and many still existed at the time of the founding of the People's Republic. They formed joint management entities under the guidance of the government, and were gradually transformed into a socialist economy.

Source: Encyclopaedia Britannica Concise Encyclopedia About Encyclopaedia Britannica Concise Encyclopedia Information

Japanese:

中国の伝統的な共同出資による企業形態。「股」とは株の意。複数の出資者が連帯して無限責任を負うもので，出資者は血縁もしくは地縁で結ばれているのが普通であり，株の処分も出資者間の了解を必要とした。唐・宋時代から始ったといわれるが，中国の中小規模の商業，手工業経営にとって最も普遍的な資本集積の方法であった。近代になって株式会社に発展したものもあったが，それはわずかで，人民共和国成立時にもなお多く存在し，政府の指導で連合経営体を形成しつつ，徐々に社会主義経済へ改造されていった。

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