A private company needs at least two or more person for its formation and has less legal restrictions and whereas public companies sold all or part of it to public and needs seven and more person for set up and more legal restrictions. The public company has no limit of number of members and also no restriction on transferability of shares and public companies like to report high profit to impress shareholders whereas private has a fixed number of members and restrict transfer of share to public and they cannot sell more stock to raise money. Main advantage of public companies are they can raise their capital by selling more stocks or bonds. The management of private companies are their biggest advantage as they do not need to answer stockholder. The private company can start their business after receiving a certificate of incorporation whereas public companies needs a certificate of commencement of business before it gets incorporated.
Albertsons companies are privately owned and second largest supermarket chain in north America with annual revenue over $500 million .JP Morgan chase is a leading global financial and largest banking institute in united states.