6c Types of Company Flashcards
What are the different types of company?
Public and Private
What is a public company?
Company registered as a public company which name ends in plc and must have a trading certificate.
What are the rules surrounding capital in a public company?
Must have at least £50,000 worth of shares and 25% of this must be paid already.
What is a private company?
A company that is not public which name ends in Ltd and needs an incorporation certificate.
What does it mean if a company is limited?
Limited by shares or by guarantee.
What does it mean if a company is unlimited?
Still a separate entity but members have unlimited liability to its debts.
What is a company limited by guarentee?
Normally non-profit businesses where there are no shareholders only guarantors. Each guarantor has agreed to contribute a certain amount should the company go into liquidation.
