In the United States, all companies have legal personality, and shareholders bear limited liability. There is no unlimited company form recognized by civil law and English law. The most basic classification of American companies are public companies and closed companies, and there are also so-called "limited liability enterprises".
1, the definition of public company registration:
Public company (company held by the public, shares)
Corporation refers to all companies except closed companies. Any company whose shares are traded on a stock exchange or whose stock prices are regularly announced belongs to a listed company. Therefore, a listed company is defined as a company whose shares have been registered and publicly issued. Among them, the company whose shares are traded on the stock exchange is a listed company (listed)
Company). It can be seen that listed companies are subordinate concepts of public companies, which can be listed companies or unlisted public companies (unlisted public).
Company).
2, the definition of closed company registration:
Closed company, not open to the public)
The general definition of a company is that a company with only a few shareholders (such as less than 30 people) shall not trade its shares in an officially recognized stock exchange or OTC market. The general characteristics include: there is no external stock market; All or most shareholders participate in the management of the company; The transfer of shares is strictly restricted. Accordingly, the characteristics of closed companies can be summarized as two aspects: the transfer of shares is restricted; Partnership in business management. In fact, a closed company is the product of the combination of owner's operation and shareholders' limited liability. From the perspective of economic scale, most closed companies are small companies, and most public companies are large companies, but it is not absolute.
Joint stock companies in American law and private companies in English law, as well as public companies in American law.
Companies in English law and listed companies have the same substantive characteristics.
Closed company registration is usually the registration of small and medium-sized enterprises Its shares are held by a few people and will not be listed. They undertake the mission of the company and are also called "unlisted companies".
"Unlisted companies".
The main differences between closed company registration and open company registration are: the number of closed limited companies is restricted by law, and the transfer of shares is also restricted, and there is no need to publish annual accounts; A closed limited company shall not issue bearer securities and bearer shares, nor shall it issue an invitation to the public to subscribe for its bonds and shares; The registration, management and membership of a closed limited company are more convenient than those of an open limited company.