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Closed Corporation
(redirected from Closely-Held Company)

   Also found in: Dictionary/thesaurus, Financial 0.01 sec.

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.



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The project is being sponsored by MBM Holdings and will be developed jointly with ERC Private Limited Singapore (Lancaster Holdings International LLC, a closely-held company that acquires underperforming businesses in Asia), which has an extensive experience in developing similar plants.
This tax-deferred rollover is the most favored way for an owner of a closely-held company to sell his or her stock.
 
 
 
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