1) Bob and Amy (together "B+A") are a married couple that decide to start a business together. They want to start a technology company in Hong Kong. B+A now approach you to advise them on starting their new company. Initially, Bob and Amy will be the only shareholders and the only directors. You have prepared the relevant documents and have a meeting with B+A. Bob notices that their new company will be a private company limited by shares. As Bob is not familiar with this term, he asks you to explain what the basic characteristics of this type of company are. Additionally, Bob is also concerned about liability and wants to understand liability as it relates to the new company and its shareholders. Please advise Bob and Amy regarding their queries