A public limited company is a corporate body whose ownership is allocated to the general public through freely trading stock exchange shares. Shareholders benefit from restricted liability in a public limited business, which protects their personal assets. These businesses are subject to strict regulatory requirements that need accurate financial reporting and disclosure.  A board of directors, elected by shareholders, is in charge of making crucial business decisions and regulating management in a public limited company. The ability to exchange shares on the stock market readily gives liquidity to shareholders and allows the company to raise cash by issuing additional shares.