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H.55 'D+'FJ D"+1 'D*-HD 9DI 'D/'&FJF . Abstract Family company suffered from many difficulties which might impede its activity and development as well . thus, its Transformation in to joint stock company is one of the strategic choices to assure its development and the continuity of its activity. and this Transformation would have effect an the interests of creditors of the company and family company its self . For that we can divided our study into two part, the first part discuss Transformation effect on family company into three chapter, the first deal with corporate body, the second to the application of the administrative system of the joint stock company, the third to get shares. And the second chapter, the first part discuss Transformation effect on partners and the second part deal with Transformation effect an the interests of creditors . 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