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closed corporation

   Also found in: Dictionary/thesaurus, Legal 0.04 sec.
Closed corporation
A corporation whose shares are owned by just a few people, having no public market.
closed corporation
See closely held company.
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Marriage was an economic pact in which fidelity was essential to maintain a stable home for kids and, in more traditional societies, to ensure the purity of bloodlines--only the wife's chastity could assure the father that the children he was raising, and to whom he would pass on his property, were really his, The family was primarily an economic institution, and monogamy guaranteed that it would remain a closed corporation.
What century is this anyway? by White, Edmund / The Advocate (The national gay & lesbian newsmagazine)
The court rejected the plaintiff's argument that because jasmine was a closed corporation, the defendants had a duty to treat it as a partnership and to respond to the plaintiffs request as if she were a partner.
Only the client is entitled to accountant's reports by Baliga, Wayne / Journal of Accountancy
To date, the state Department of Justice, which enforces the Gaming Registration Act, has stated that an owner or operator of a gaming club must be an individual, partnership or closed corporation -- not a publicly traded corporation.
Showdown near for Hollywood Park card club plan by Berger, Robin / Los Angeles Business Journal
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