L c stands for Limited Company and this type of business entity has become a popular choice for many entrepreneurs with a view to setting up their own company. Limited companies are legal entities separate from their owners and offer the protection of limited liability. This means that the responsibility of the business' liabilities and losses are limited to the amount of capital contributed by each of the shareholders in the company.

The shareholders in a limited company are typically either employees of the company or investors, who provide the capital to get it started and share in the profits.A limited company also benefits from tax advantages such as Corporation Tax relief and Capital Allowances.