Enterprise
"Going public" via a process often known as an preliminary public offering signifies that part of the enterprise shall be owned by members of the general public. This requires the organization as a distinct entity, to disclose data to the public, and adhering to a tighter set of laws and procedures. Most public entities are corporations which have offered shares, but increasingly there are also public LLC's that sell models , and other more exotic entities as nicely, such as, for instance, real estate funding trusts in the US, and unit trusts in the UK. Some specialized companies may require licenses, either because of legal guidelines governing entry into certain trades, occupations or professions, that require special education or to lift income for local governments. Because the only proprietor is personally responsible for money owed and obligations incurred in reference to the business, no special rules are wanted to guard its collectors past the strange provision