A Limited Company is a type of business structure where the company's financial liability is separate from that of 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, depending on their structure and ownership. In a limited company, shares are issued to shareholders, who invest in the business. The company is required to follow specific regulations, including filing annual accounts and maintaining transparency. This structure is popular among entrepreneurs and small businesses, as it offers both credibility and limited liability protection.