Correct Answer: Option C

Explanation

They both raise capital through the sales of share, they both require more than one person to start, they are controlled by a board of directors and they have separate legal status.
A certificate of incorporation is a legal document issued by the government or relevant authority that confirms the formation and registration of a company as a legal entity. Both private and public companies go through the process of obtaining a certificate of incorporation, which grants them the status of a legally recognized business entity.

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