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A private company can be limited and unlimited. It can be limited by shares and by guarantee (could you explain what does it mean?)
A public company can be limited by shares and by guarantee (but again what does it mean?)
Firstly, let’s get rid of one MAJOR error in your post – a public company CANNOT be limited by guarantee. Public companies are, by statutory definition, limited by shares
Now, private companies. These may be limited or unlimited. If they are limited, that limitation of shareholder liability may be limited by either shares or guarantee
If limited by guarantee, the company may nevertheless have a share capital but this possibility no longer exists for new companies being registered
A private company where shareholder liability is limited by shares means that, in the event of an insolvent liquidation in the future, it will not be possible to hold the shareholders of the company liable to contribute to the deficiency of assets beyond the amount of any as-yet-unpaid amounts on the capital value of shares held by them individually
A private company limited by guarantee means that, in the event of a future insolvent liquidation, the unpaid creditors will be unable to hold the members of the company liable to contribute to the deficiency of assets beyond the amount that individual members have guaranteed that they will contribute to such a shortfall
OK?
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