A company limited by guarantee (CLG) is a type of company that has no share capital. Instead, the members of the company agree to contribute a certain amount of money to the company in the event of its liquidation. This amount is known as the “guarantee”. CLGs are often used by non-profit organizations, such as charities and social enterprises, because the limited liability structure of a CLG protects the members from personal financial liability for the debts of the company.