Which type of colony operated under joint-stock companies?

Corporate colonies operated under joint-stock companies, which were financial arrangements where investors pooled their resources to fund colonization efforts. This model allowed for shared financial risk and the potential for profit from trade and land exploitation. The most notable example of a corporate colony is the Virginia Colony, which was established by the Virginia Company, a joint-stock company.

Crown colonies, on the other hand, were directly controlled by the monarchy and did not involve private investors in the same way. Royal colonies were also under the direct authority of the crown, while proprietary colonies were granted by the monarch to individuals or groups, who would then manage the land. These latter types primarily relied on individual or royal oversight rather than collective investment structures typical of corporate colonies.