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A Private Limited Company: A type of company that offers limited liability, or legal protection for its
shareholders Shareholders who are family and friends Governed by two legal documents:
Memorandum of Association and Articles of Association
Disadvantage of LTDs More expensive to set up than a Sole trader or Partnership Pay annual fees less
personal control over the business
Advantages of LTDs Limited Liability Greater availability of finance
Public Limited Companies A business who sells its shares on the stock market
...