a company limited by guarantee without share capital
Private company limited by guarantee In British and Irish company law, a company limited by guarantee (LBG) is an alternative type of corporation used primarily for non-profit organisations that require legal personality. A company limited by guarantee does not usually have a share capital or shareholders, but instead has members who act as guarantors. The guarantors give an undertaking to contribute a nominal amount (typically very small) in the event of the winding up of the company.[1]
Limited company In the United States, corporations have limited liability and the expression corporation is preferred to limited company. A "limited liability company" (LLC) is a different entity. However, some states permit corporations to have the designation Ltd.[7] (instead of the usual Inc.) to signify their corporate status. A Limited company[8] must file annual tax returns ("corporation" tax returns) with the Securities and Exchange Commission.