private company

• PRIVATE COMPANY

  one to fifty owners who buy shares in the company. The name of the company must have Pty Ltd (proprietary limited) in the name.
• advantages

  limited liability

  allows a business to raise more capital than it usually would
• disadvantages

  shares only sold to owners of the company (no public selling)

  all shareholders must be informed before shares are bought from existing shareholders or sold to new ones