Concept:A business that raises capital by selling shares to the public is a joint stock company.Explanation:Partnership and sole proprietorship are owned by a few individuals or one person and do not sell shares to the public.A co-operative society is owned and run by its members for mutual benefit, not mainly through share sales to investors.A Joint Stock Company raises capital by issuing shares to many shareholders, who become part-owners of the company.Answer:C. Joint Stock Company.