A Limited Company is a type of business structure where the company's financial liability is separate from its owners. This means that if the company faces debts or legal issues, the personal assets of the owners, known as shareholders, are generally protected. Limited companies can be either privately held or publicly traded, with shares that can be bought and sold. In a limited company, the ownership is divided into shares, and shareholders can receive dividends based on the company's profits. The company must adhere to specific regulations, including filing annual accounts and maintaining transparency, which helps ensure accountability and trust among investors and the public.