Closed Corporation

(redirected from Closely held company)
Also found in: Dictionary, Thesaurus, Financial.

Closed Corporation

A type of business corporation that is owned and operated by a small group of people.

A closed corporation is also known as a close corporation, a family corporation, an incorporated partnership, and a chartered partnership. In this type of corporation all of the functions are usually performed by the same parties. These individuals serve as shareholders, officers, and directors and are involved in the management and operation of the business. A closed corporation differs from a publicly held corporation since its stock is neither issued nor traded to the public at large.

References in periodicals archive ?
59-60(3) outlined the approaches and methods typically considered when valuing a closely held company for estate and gift tax purposes.
If there is no obvious buyer for a closely held company, the majority shareholder can sell his or her stock to a leveraged ESOP (explained later).
Cambridge Industries is a private, closely held company owned by Richard S.
com) is a closely held company providing the a) IPTV Management of Customer interface and Marketing of operator co-defined bundles b) Content Delivery Network Technology Deployment & manpower support with inputs from top Techno-providers; c) Content Aggregation & digital Re-purposing for Content-providers.
It is comprised of a distinct group of professionals specially trained and devoted full time to meeting the needs of the closely held company.
The sellers asserted the term "stock," as used in the securities acts, did not include the transfer of 100% of the stock of a closely held company.
The closely held company will operate as Data Impact in the U.
Based in Dedham, Massachusetts, it is a closely held company operating under the third generation of leadership by the Redstone family.
The closely held company has partnerships with leading hospitals in Korea and is working with these institutions to understand a range of diseases and help develop personalized approaches based on individual genotypes.
Headquartered in Las Vegas, Eighth Wonder is a private, closely held company that conceives, designs and develops entertainment and leisure resorts, retail complexes and casinos around the world.