Private 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 company was a private corporation, owned and controlled by the founding family, with no intention of going public.
- As a private corporation, the business was not required to disclose its financial statements to the public.
- The private corporation was able to make decisions quickly and efficiently, without needing to answer to external shareholders.
- The family-owned private corporation had been in operation for over 50 years, with no plans to sell shares to the public.
- The private corporation was exempt from many of the regulations that applied to publicly traded companies, giving it more flexibility to operate.