close corporation

noun
\ ˈklōs- How to pronounce close corporation (audio) \

Definition of close corporation

: a corporation whose stock is not publicly traded but held by a few persons (such as those in management)

First Known Use of close corporation

circa 1902, in the meaning defined above

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Time Traveler for close corporation

Time Traveler

The first known use of close corporation was circa 1902

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Cite this Entry

“Close corporation.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/close%20corporation. Accessed 23 Jan. 2021.

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More Definitions for close corporation

close corporation

Legal Definition of close corporation

— see corporation

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