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Closed Corporation |
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Closed corporation
Closed Corporation A company in which a small group of shareholders controls the majority of the shares. These majority shareholders tend to hold on to the company's stock, and, for that reason, only minority shares are traded, leading to light trade volume. Closed corporations are, by their nature, resistant to hostile takeovers and proxy wars. They tend to be more stable than other companies because their share prices are not determined by (sometimes irrational) investment decisions, but by the value of the company itself. However, closed corporations do not have access to as much working capital as corporations with more shareholders. They are also called closely held companies. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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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. 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. 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. |
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