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A public limited company is set up to make a company a legal person and therefore making the company liable for any loss or bankruptcy. i.e. if it goes bankrupt only the company will be chased and not those who run it.
A p.l.c. issues shares which are units of ownership and these are open for the general public. Each 3/4/5 years a board of directors is elected during the AGM - Annual General Meeting.
the biggest disadvantage of a p.l.c. is that if the company goes bankrupt all the shareholders will lose their money which they invested.
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∙ 11y ago
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