Limited company a distinction to be made between the publicly tradable companies of the "plc" type (for example, the German Aktiengesellschaft (AG), British PLC, Czech a.s., Italian S.p.A., Hungarian Zrt. and the Spanish, French, Polish, Greek and Romanian S.A.), and the "private" types of company (such as the German GmbH, Portuguese Ltda., British Ltd., Polish sp. z o.o., the Czech s.r.o., the French s.a.r.l., the Italian and Romanian s.r.l., Hungarian kft. and Slovak s.r.o.) This is a company that does not have share capital, but is guaranteed by its "members", who agree to pay a fixed amount in the event of the
Private limited company s ograničenom odgovornošću" (literal: limited liability company), abbreviated "d.o.o.". A public limited liability company is termed a "dioničko društvo" (literal: joint stock company) abbreviated "d.d.". Czech legislation contemplates LLCs as "společnost s ručením omezeným" ("s.r.o." or "spol. s r.o."). An "s.r.o." is not technically comparable to an LLC because the profits are still subject to double taxation. Czech law does not offer a possibility to start up a limited company without the possibility of avoiding double taxation. As of 2014 the liability is not limited in Czech, since managing director ("jednatel", mandatory board member in Czech LLCs) bears full liability