1. Limited liability: Shareholders are only liable for the debts of the company up to the amount they have invested in the company through purchasing shares.

2. Restricted ownership: Private limited companies have restrictions on the transfer of shares. Shares cannot be freely traded on the stock exchange, and usually require the approval of existing shareholders before being transferred.

3. Separate legal entity: A private limited company is considered a legal entity separate from its owners. This means the company can own property, enter into contracts, and sue or be sued in its own name.

4. Minimum and maximum number of shareholders: Depending on the jurisdiction, private limited companies may require a minimum of one or more shareholders, but generally, there is a maximum limit on the number of shareholders, often capped at a few hundred.

5. Financial reporting: Private limited companies are required to prepare and file financial statements with relevant government authorities, though the level of detail and frequency of reporting may vary depending on local regulations.

6 Management structure: Private limited companies typically have a board of directors responsible for overseeing the management of the company’s affairs. Shareholders usually elect directors to serve on the board.

7. Taxation: Private limited companies are subject to corporate income tax on their profits. Shareholders may also be subject to taxation on any dividends they receive from the company.