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
Limited liability company partnership, and, under certain circumstances, LLCs may be organized as not-for-profit. In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC). A limited liability company (LLC) is a hybrid legal entity having certain characteristics of both a corporation and a partnership or sole proprietorship (depending on how many owners there are). An LLC is a type of unincorporated association distinct from a corporation.