The following are difference private and public company
- for a private company the minimum number of Board members required for a is 2 and for a public company it is 7.
- Private company can have maximum of only 50 members, but a public company can have any number of members.
- A private company can start its business at any time as it is incorporated but the public company requires a business commencement certificate to start its function.
- Private company cannot sell it’s shares to anyone and cannot call for share holding invitation to public , but a public company can invite people to buy it’s shares by issuing a prospectus.
- Private company may have two directors, but a public company must have at least three directors.