private company

private company
Under the Companies Act 1985, companies are incorporated as either private ("limited") or public ("Plc"). They are distinguished by different standards of regulation in the Companies Act 1985 and other legislation. Public companies require a minimum capital investment of ₤50,000 and are designed for use as more substantial companies with wide share ownership. They may be listed. Private companies are the category which represents the remainder of companies.

Easyform Glossary of Law Terms. — UK law terms.


private company
a company that is not a public company and that, as such, cannot offer its shares to the public.

Collins dictionary of law. . 2001.


private company
1) A company that is not a public company and which is not allowed to offer its shares to the general public. It can be limited by shares (members' liability is limited to the amount unpaid on shares they hold) or limited by guarantee (members' liability is limited to the amount they have agreed to contribute to the company's assets if it is wound up).
If the company is a private unlimited company, there is no limit to the members' liability.
For further information, see the Companies House website:
2) A company that is not a public company and which is not allowed to offer its shares to the general public. Usually limited by shares (members' liability is limited to the amount unpaid on shares they hold). Examples: the German GmbH, French SARL and UK limited company.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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