Private limited company Private limited company A private limited company is a type of business entity in "private" ownership used in many jurisdictions in contrast to "public" ownership, with some differences from country to country. Examples include "LLC" in the US, "private company limited by shares" in the UK, "GmbH" in Germany or "společnost s ručením omezeným" in the Czech Republic. In Albania a limited liability company () is a commercial company founded by persons of physical or judicial status, who are not liable for the company and personally bear losses only up to the outstanding contribution agreements. Partners' contributions constitute the registered
Private limited company may just issue written resolutions. Chilean law contemplates a certain form of LLC known as "Sociedad de Responsabilidad Limitada" (Limited Liability Association). Also (LLC) These companies are regulated by law N° 3.918. Among their most important characteristics we can say that: Chilean law also contemplates a very special kind of individual owner LLC called "Empresa Individual de Responsabilidad Limitada" (Limited Liability Individual Company), which uses the E.I.R.L. abbreviation. Colombian legislation contemplates a very similar structure as mentioned above in the Chilean case. The "Ltda." abbreviation is also used in Colombia. In Croatia, a private limited liability company is termed "društvo