A large business structure that is also incorporated, so it also has its own legal existence but derives the ‘Public’ name because it can publicly raise funds by advertising and selling shares through the Australian Securities Exchange (ASX).
%%Advantages%% : Limited liabilities, greater ability to attract capital as they can publicly advertise, greater transferability of ownership (selling of shares), life of business is ongoing due to being a seperate legal entity.
==Disadvantages== : Establishment costs, ongoing administration and compliance costs are high, much more scrutiny, greater seperation between ownership and control, greater statutory obligations with the possibility of fines and penalties if not met, greater disclosure requirements.