As per Lawkidunya, A Public Limited Company (PLC) is a type of company that is legally recognized and regulated by law. Here are the key characteristics of a PLC as per law:

Definition of Public Limited Company

A Public Limited Company is a company that is incorporated under the Companies Act and has the following features:

1. Limited liability: Shareholders have limited liability, meaning their personal assets are protected in case the company incurs debts or liabilities.

2. Public trading: PLCs are listed on a stock exchange, and their shares are traded publicly.

3. Separate legal entity: A PLC is a separate legal entity from its shareholders and directors.

Key Features of Public Limited Company

1. Minimum share capital: PLCs must have a minimum share capital, which varies by jurisdiction.

2. Public offer: PLCs can offer shares to the public through an initial public offering (IPO).

3. Listing on a stock exchange: PLCs are listed on a recognized stock exchange.

4. Compliance with regulations: PLCs must comply with strict regulations and reporting requirements.

5. Board of directors: PLCs have a board of directors responsible for managing the company.

6. Shareholder meetings: PLCs hold annual general meetings (AGMs) and extraordinary general meetings (EGMs) as required.

Advantages of Public Limited Company

1. Access to capital: PLCs can raise capital from the public through share offerings.

2. Increased credibility: Listing on a stock exchange enhances credibility and reputation.

3. Liquidity: Shareholders can buy and sell shares easily.

4. Flexibility: PLCs can issue different types of shares and securities.

Disadvantages of Public Limited Company

1. Regulatory compliance: PLCs face strict regulations and reporting requirements.

2. Public scrutiny: PLCs are subject to public scrutiny and media attention.

3. Share price volatility: Share prices can fluctuate rapidly.

4. Increased costs: PLCs incur significant costs associated with listing and reporting.

Examples of Public Limited Company

1. Multinational corporations: Many large multinational corporations are PLCs, such as Apple Inc. and Toyota Motor Corporation.

2. Financial institutions: Banks and financial institutions, like JPMorgan Chase & Co. and Barclays PLC, are often PLCs.

3. Technology companies: Tech giants like Alphabet Inc. (Google) and Facebook, Inc. are PLCs.

In summary, Public Limited Companies are legally recognized entities that offer shares to the public, are listed on a stock exchange, and are subject to strict regulations and reporting requirements.