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“Going public” by means of a process often called an preliminary public providing (IPO) implies that a part of the business will probably be owned by members of the general public. This requires the group as a definite entity, to disclose information to the public, and adhering to a tighter set of legal guidelines and procedures. Most public entities are corporations that have sold shares, however more and more there are also public LLC’s that sell models (generally additionally called shares), and other more exotic entities as well, corresponding to, for instance, actual estate funding trusts within the USA, and unit trusts within the UK. A basic partnership cannot “go public”.
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