Explain the term company?What are the major features of private and public companimies?
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A business organisation selking goods or services
A company at its crux, is an artificial person created by law. It’s an association of individuals having a separate legal existence, perpetual succession and a common seal. It’s capital is generally divided into transferable shares, subject to certain conditions.
There are many types of companies, the most popular of which are Private (pvt. ltd.) and Public (ltd.). Both private and public limited companies have it’s own advantages and disadvantages.
An entrepreneur has to choose the type based on his funding plans. Let’s take a look at the key factors of both Private and Public ltd companies.
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