When a company is formed, it will be one of the following types:
- A Company Limited by Guarantee – typically charities and not-for-profit organisations
- A Private Limited Company – the most popular type of company which limits the liability of the shareholders
- A Public (or listed) Limited Company – major companies typically quoted on the London Stock Exchange or AIM
- A Limited Liability Partnership – typically used for accountancy or legal practices with very strict legal and taxation requirements
Each has their own legal framework. In the case of Listed Companies, Stock Exchange and other rules and laws apply, which we will not cover in this course.