Aktiengesellschaft (German pronunciation: [ˈaktsi̯ənɡəˌzɛlʃaft]; abbreviated AG, pronounced [aːˈgeː]) is a German word for a corporation limited by share ownership (i.e. one which is owned by its shareholders) whose shares may be traded on a stock market. The term is used in Germany, Austria, Switzerland (where it is equivalent to a société anonyme or a società per azioni), and South Tyrol[lower-alpha 1] for companies incorporated there. It is also used in Luxembourg (as Aktiëgesellschaft, pronounced [ˈɑktsjəɡəˌzælʃɑft]), although the equivalent French language term société anonyme is more common.[citation needed] In the United Kingdom, the equivalent term is "PLC" and in the United States while the terms "incorporated" or "corporation" are typically used, technically the more precise equivalent term is "joint-stock company"[1] (though note for the British term only a minority of public limited companies have their shares listed on stock exchanges).[2]