A private limited company (BV) is a cooperative venture of shareholders. On incorporation, shares are issued to the incorporator(s) or to other parties contributing money or assets. The shares are registered. The names and addresses of the shareholders are kept in the shareholders’ register. In a private company the shareholders are only liable to the amount for which they participate in the company. And because a private company is a legal entity, the managing and supervisory directors are in principle not liable for the debts of the company.