Limited Company is a type of business structure where the company is a separate legal entity from its owners. The owners’ personal money is usually protected, and they are only responsible for the money they invested in the company. The company can own assets, enter contracts, and take on debts in its own name.
For example, if you start a small bakery as a limited company, the business is its own legal entity. If the bakery owes money or faces legal issues, your personal savings and home are usually protected. You are only responsible for the money you put into the company. The bakery can own equipment, rent a shop, and make contracts in its own name, separate from you as the owner.
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