The Public Limited companies are formed, to satisfy the needs of the huge business capitals which are generally raised from the public i.e. the shares of the public. The Public Limited Company offers the general public to have Shared Stocks that have limited liability. This implies that the buyers can’t be held responsible if any losses are incurred more than the amount they have contributed to the shares. The basic requirement to form a public company is to have at least seven shareholders and a minimum of three directors.