First, please understand that a registered company is a company, that is, an independent legal entity different from its members. More precisely, the debts and contracts of listed companies are the debts of enterprises, not the debts and contracts of members. This benefit extends to the fact that unless the enterprise goes bankrupt, it will have permanent inheritance rights. This simply means that it is not affected by the death, bankruptcy, insanity or retirement of any of its members.

The property of the registered company belongs to the company and belongs to the company. Therefore, when the ownership of the company's shares changes, its property ownership or formal ownership will not change. Therefore, a listed company can enter into a contract with its members and can sue or be sued under such a contract.

One of the most important things to note is that the number of privately registered companies cannot exceed fifty, but there is no limit to the number of publicly registered companies, except when certain partners are working as professional lawyers. Accountants, lawyers, stock brokers, agents, surveyors, actuaries, etc.

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Reference:

Company Registration: A Complete Guide For Your Business Registrati...