Firms and Industry – Private and Public Companies
Economics S.S.S 1 Second Term
WEEK 3
Firms and Industry – Private and Public Companies
Performance Objectives
Student should be able to:
- Explain the meaning and characteristics of private and public companies.
- Identify the distinction between private and public companies.
Content
Private limited company
Private limited company is held by a few individuals privately having a separate legal entity. In this, the shareholders cannot trade shares publicly. It restricts its number of shares to 50. Shareholders cannot sell their shares without the approval of other shareholders. It is a company which restricts the right of its members to transfer its shares and it doesn’t send the invitation to the public for subscription of its shares. Characteristics of private limited company are mentioned below.
Characteristics of the private limited company
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