Its vs. It’s

Using its and it’s incorrectly is a very common error among native English speakers and non-native English speakers alike.

Its – the possessive form of it (like his or her).
“Each company in the group has its own managing director and company secretary.”

It’s – a contraction of “it is”. When you see the apostrophe, you should think “it is”.
“It’s difficult for the parties to resolve this dispute.”