Companies limited by ----------------- are not formed for the purpose of profit but for the promotion of art, science, culture, charity, sports, commerce etc.

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Companies limited by guarantee are typically not formed for profit but for the promotion of non-profit objectives such as art, science, culture, charity, sports, and commerce. Unlike companies limited by shares, where the liability of members is limited to the amount unpaid on their shares, in a company limited by guarantee, members agree to contribute a predetermined sum to the company's assets in the event of its winding up.

Companies Limited by ----------------- Are Not Formed for the Purpose