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)

Examples of close corporation in a Sentence

Recent Examples on the Web With very rare exceptions (such as Nevada's close corporation statute), charging orders are not authorized by statutes of a corporate nature, which includes Ohio professional associations. Jay Adkisson, Forbes, 20 Sep. 2021

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'close corporation.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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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Dictionary Entries Near close corporation

close communion

close corporation

close-coupled

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Cite this Entry

“Close corporation.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/close%20corporation. Accessed 28 May. 2022.

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More Definitions for close corporation

close corporation

Legal Definition of close corporation

— see corporation

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