Understanding Business Legal Structures and Liability

The video tutorial explains the different legal structures of businesses, focusing on liability. It covers unlimited liability, where business owners are personally responsible for debts, and limited liability, which separates business debts from personal assets. The tutorial distinguishes between sole traders, partnerships, private limited companies (LTD), and public limited companies (PLC), highlighting their characteristics and differences. It also clarifies the distinction between public limited companies and public sector organizations.

Describe the characteristics of a private limited company (LTD).

How does a public limited company (PLC) differ from a public sector organization?