Company limited by guarantee
A Company limited by guarantee is a kind of Limited company. In a limited company, the liability of each of the people owning the company is limited. There are two sorts of companies: those limited by shares, and those limited by guarantee.  In a limited company, there are shares, and each shareholder is responsible up to the amount of the share, if the company goes bankrupt. In a company limited by guarantee, each member gives a guarantee, to take liabilities up to a certain amount. Very often, companies that are not profit-oriented use this structure. Two examples of such companies are PGA European Tour, which organises golf tournaments, and Oxfam, which distributes aid.