• Company law regulates how companies operate. It was updated by the Companies Act 2006 in 2009. Summary

  • Limited liability offers the directors and shareholders of the company the protection by which to try to make a business work, but if the business ultimately proves unprofitable their private assets are not at risk, both under the previous law and under the Companies Act 2006. Limited Liability

  • There are four main types of company: private companies limited by shares (Ltd), public companies limited by shares (PLCs), companies limited by guarantee and community interest companies, each of which have different obligations and benefits. Private Companies Limited by Shares (Ltd)

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