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Proprietorships that intend to conduct large-scale business operations register as a Public Limited Company. A Public Limited Company (PLC) is a limited liability company. It is listed on the stock exchange. Each shareholder's liability in a PLC is limited. In contrast to sole proprietorships, where the business owners are personally accountable for the debts of the business, a shareholder of a Public Limited Company is not personally liable for any loss or debt of the company for any sum larger than the amount invested by them.
A Public Limited Company sells shares to the general public. It also raises capital from the public. Its stock can be purchased by anyone, either privately through an initial public offering or publicly through stock market exchanges. A Public Limited Company is highly regulated and must disclose its genuine financial health to its shareholders.
Advantages of converting to Public Limited Company
A Proprietorship that converts to a Public Limited Company will reap the following benefits:
Prerequisites of Public Limited Company
To be a Public Limited Company, an organization has to have the following prerequisites:
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