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“Going public” via a process referred to as an preliminary public providing (IPO) signifies that a part of the business can be owned by members of the public. This requires the organization as a distinct entity, to disclose data to the general public, and adhering to a tighter set of laws and procedures. Most public entities are corporations that have bought shares, but more and more there are also public LLC’s that promote models (generally also called shares), and different more exotic entities as well, resembling, for instance, actual property investment trusts in the USA, and unit trusts in the UK. A normal partnership cannot “go public”.
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