Most companies begin as private limited companies . Their owners have to put up the capital themselves or borrow from friends or a bank perhaps a bank specializing in venture capital . The founders have to write a Memorandum of Association or a Certificate of Incorporation which states the company's name its purpose its registered office or premies and the amount of authorized share capital. They also write Articles of Association or Bylaws which set out the duties of directors and the rights of shareholders or stockholders. They send these documents to the registrar of companies
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