company with at least seven stockholders that has the authority to recruit public funds (if funds have already been recruited the company must present a yearly balance to the registrar of companies)
A public company usually refers to a
company that is permitted to offer its
securities (
stock,
bonds, etc.) for sale to the general public, typically through a
stock exchange. Usually, the securities of a
public company are owned by many investors while the shares of a
private company are owned by relatively few shareholders. However, a company with many shareholders is not necessarily a public company. For example, in the United States, in some instances, companies with over 500 shareholders may be required to report under the
Securities Exchange Act of 1934; companies that report under the 1934 Act are generally deemed public companies. The first company to issue shares is thought to be the
Dutch East India Company in 1602.
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