A Public Limited Company is where there is a rule of minimum number of members to be at least seven or more and there is no cap on the maximum number of members. A minimum of three Directors are required for establishing a Public Limited Company. A public limited company is a lot like a private limited company with all the advantages and the capability to have unlimited number of members, transferability of shares and transparency. The Public limited company is identified by name, number of members, shares, formation, management, directors, meetings, etc., It also grants limited liability to its owners.