21 Information in the public domain
‘It is much more convenient not to be a public company. As a private company you don’t have to give information to the public. . . ’
Marc Rich, Glencore plc
In a nutshell
Unlike sole traders and partners in partnerships, companies have limited liability. This means that the owners can only lose the money they put into the business, and nothing more.
In return for the benefits of limited liability, companies must provide information about their activities, including details about directors and shareholdings. This information is held in the public domain and is available to view for free online at Companies House.
Every company must file a Confirmation Statement at Companies House. This annual requirement ...
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