To start a company, a minimum number of 7 members are required. There is no maximum limit to the number of shareholders. This allows a Public Company to raise Capital from general public and to be listed on a recognised stock exchange

The liability of each member or shareholders is limited. It means that if a company faces loss under any circumstances then its shareholders are not liable to sell their own assets for payment. The personal, individual assets of the shareholders are not at risk. The Liability of the Shareholders is limited to the extent they have Invested in the Company

The company keeps on existing in the eyes of law even in the case of death, insolvency, or  bankruptcy of any of its members. This leads to the perpetual succession of the company. The life of the company keeps on existing forever.

Minimum Paid up Capital of Rs. 5,00,000 is required to register a public limited company, unlike a Private Limited Company which can be started without any minimum capital.

A prospectus is a comprehensive statement of the affairs of the company issued by a public limited company for its public and there is a requirement under the Act for public limited companies to issue a prospectus.