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In the United Kingdom, there are various types of companies. The most common type of company is a private limited company. Such companies' names end with the words Limited or Ltd. The company is a "legal entity " that has nothing to do with the founders' personal finances. A company of this type must have at least one director who can also be a shareholder. A company may have one or more shareholders. At least one of the directors must be an individual; otherwise, the board of directors cannot be made up entirely of legal entities.