Company incorporation: subscribing a memorandum and complying with registration enables formation with limited by shares, guarantee, or unlimited liability. Formation of an incorporated company requires subscription of a memorandum of association and compliance with registration requirements; private companies may be formed with fewer founding persons. An incorporated company may be a company limited by shares (liability limited to unpaid share amounts), a company limited by guarantee (members undertake to contribute a stated amount on winding up), or an unlimited company (members have no limit on liability).