Types of Company

Private company limited by shares

Here members' liability is limited to the shares they hold.

Private company limited by guarantee

With these companies liability is limited to the amount members have agreed to contribute to the company's assets if it is wound up.

Private unlimited company

In a private unlimited company there is no limit to the members' liability. These companies are seldom used as they have few advantages over a private limited company.

Limited Liability Partnership

This is similar to a traditional partnership but it gives the partners limited liability.

Public limited company

A Public Limited Company or PLC is a company whose shares are offered for sale to the general public. Here a members' liability is limited to the amount paid for the shares they hold.