A Limited Liability Company, quite simply is a company whose liability is limited.
Forming a Limited liability company (LLC) is beneficial if you want your business to have the flexibility and tax advantages of a partnership while maintaining the limited-liability benefits of a corporation.
Limited company is divided into public companies and private companies.
A public limited company is a limited liability company that offers its securities (stock/shares, bonds/loans, etc.) for sale to the general public.
A private limited company is a limited company, whose liability is limited, the transfer of whose shares is limited to its members and who is not allowed to invite the general public to subscribe to its shares or debentures.
More information on Other Types of Companies
