The maximum number of shares of stock (collectively known as capital stock), both preferred and common, that a company is authorized to issue and sell to investors, as stated in its corporate charter (articles of incorporation). The authorized capital stock consists of two components: issued capital stock and unissued capital stock. The company may choose to issue less than the amount of authorized capital shares for tax purposes or cost considerations.

Authorized capital stock is also known as authorized shares or simply as authorized stock.