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Introduction The purpose of writing this essay is to compare and contrast between public and private companies A public organization is own and operated by the government while private organization dominated by private business operators This are two main type of business operate within the economy they both provide related service on some level and differ from one another on a diversity of features Mutual companies have book of memorandum and articles of association that serve as a rules and regulation in the company but they are differs in the numbers of members that are required by the law to form a business companies act 2006 A public company is a business firm in the public sector of an economy controlled and operated by a government employee The main purpose of public firm is to render services to the members of the public for example valiant petroleumplc is an energy company operating in united kingdom while a private company is a business firm in the private sector of an economy controlled and operated by a private individuals the main purpose of private organization is to make profit For example Barclay bank There is a certain statutory requirement for a company to register as an incorporated company this include minimum and maximum numbers of shareholders The public firm has minimum numbers of seven shareholders with no upper limit while private companies has minimum numbers of two and maximum number of fifty shareholders company act 2006 Furthermore both companies own by shareholders therefore the more shares you own the more control you have in the business They both have memorandum and article of association a memorandum of association is a book made by each shareholder confirming their willingness to form
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