Explanation:

- A private company is a business entity that is privately owned and does not offer shares to the general public.

- Option 1: 5 - Typically not the case for a private company. More relevant for other types of entities.

- Option 2: 7 - Generally required for a public company as opposed to a private one.

- Option 3: 4 - Not a standard option for incorporation requirements.

- Option 4: 2 - The correct answer. This is the minimum number of members required to register a private company.