| Public company | Private company | |
| Membership | Minimum of 7 and no maximum | Minimum of 1 and maximum of 50 |
| Prospectus
|
Can issue a prospectus | Cannot issue a prospectus |
| Director | At least 2 directors | At least 1 director |
| Transfer of shares
|
Shares are freely transferable | Restricts transfer of shares to members only |
| Commencement of business
|
Can only commence business after certificate of trading is issued | Can commence business
after certificate of Incorporation is issued |
| Publication of accounts | Must publish its account | No requirement to publish accounts |
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