: 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.
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Jay Adkisson, Forbes, 20 Sep. 2021
Jay Adkisson, Forbes, 20 Sep. 2021
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'close corporation.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
Word History
First Known Use
circa 1902, in the meaning defined above
Time Traveler
The first known use of close corporation was
circa 1902
Dictionary Entries Near close corporation
Cite this Entry
“Close corporation.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/close%20corporation. Accessed 19 Apr. 2024.
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Legal Definition
close corporation
see corporation
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