Why some things are traded in an exchange while others are traded OTC

What are the advantages of listed companies over OTC companies?

A listing status could offer a company the following benefits:

• Access to Capital for Growth. Most companies reach a level wherein additional capital is required to be infused to fund the company’s growth / expansion plans. …
• Enhanced Visibility. …
• Liquidity. …
• Increase in employee morale. …
• Transparency and efficiency.