Ripley’s Independent Leisure Ltd (RIL Ltd) is a private limited company.
Identify two statements within the list below that apply to a limited company.
- The company has limited liability
- There will be a maximum of two shareholders
- The business can trade shares on the stock exchange
- The business has its own legal identity
RIL Ltd is considering raising finance and would have a better chance of doing this if it changed its form of ownership. What form of ownership could RIL Ltd change to and explain why this would be a suitable choice?