Answer:
A private company is a company where it's shares are not traded on a named stock exchange while a Public Company is a company where it's shares are made available to people and they are traded on a named stock exchange.
Step-by-step explanation:
A person can identify a private or a public company from the explanation given below.
A private company is a company whereby their minimum number of members is 2 and their maximum number of members is 50. A private company is a company whereby their transfer of shares is restricted and limited. A private company can have a minimum of 2 Directors. A private company cannot issue a prospectus about their shares. A private company is a company where it's shares are not traded on a named stock exchange.
A public company is a company whereby their minimum number of members is 7 and their maximum number of members is unlimited. A public company is a company whereby their transfer of shares is permitted. A private company can have a minimum of 3 Directors. A private company can issue a prospectus about their shares.
A Public Company is a company where it's shares are made available to people or public and they are traded on a named stock exchange.