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Closed Corporation (Noun)

Meaning

A corporation owned by a few people; shares have no public market.

Classification

Nouns denoting groupings of people or objects.

Examples

  • The family-owned business was a closed corporation, with all major decisions made by the founding members and their heirs.
  • A closed corporation typically has a limited number of shareholders, who are often also the company's officers and directors.
  • In a closed corporation, ownership is not transferred publicly, and the transfer of shares is strictly regulated.
  • The closed corporation was owned by a small group of investors, who maintained tight control over the company's operations and finances.
  • As a closed corporation, the company was not required to disclose its financial information to the public or adhere to the same regulations as publicly traded companies.

Synonyms

  • Private Corporation
  • Close Corporation
  • Privately Held Corporation

Hypernyms

  • Corp
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