Features
v Must use the word “Limited” or “Ltd” after its name
v Can not invite the general public to buy its shares and debentures
v Must have a minimum of two shareholders
v Can have one or more directors
v Can not transfer its shares freely
v Need not to have trading certificate
Advantages
v Shareholders have limited liability
v There is no limit on the maximum number of shareholders
v Death of a shareholder does not effect the life of the company
v Need not to get trading certificate to commence business
v It can have a minimum of one director
Disadvantages
v It can not invite the general public to buy its shares and debentures
v Shares can not be transferred freely
v Relatively lower capital
