Anchor Point:Is there more than one type of company?Anchor Point:question11. Is there more than one type of company?
Yes, there are four main types of company: Private company limited by shares – members’ liability is limited to the amount unpaid on shares they hold. Private company limited by guarantee – members’ liability is limited to the amount they have agreed to contribute to the company’s assets if it is wound up. Private unlimited company – there is no limit to the members’ liability. Public limited company (PLC) – the company’s shares may be offered for sale to the general public and members’ liability is limited to the amount unpaid on shares held by them. This type of company must have an authorised share capital of at least £50,000 at the time of incorporation.
