A public limited company refers to a legal structure of a business entity that is owned by shareholders and is allowed to sell their shares to the general public. Synonyms for public limited company include limited liability company (LLC), public company limited by shares, publicly traded company, and publicly held company. These entities are typically larger and more established businesses that have undergone an initial public offering (IPO) to become publicly traded. The main advantage of a public limited company is its ability to raise capital, as well as its increased visibility and credibility to potential investors. However, public limited companies also have increased regulatory and reporting requirements.