close corporation Synonyms
No Synonyms and anytonyms found
close corporation Meaning
Wordnet
close corporation (n)
a corporation owned by a few people; shares have no public market
close corporation Sentence Examples
- A close corporation, often abbreviated as "CC," is a type of business entity with a limited number of shareholders.
- In a close corporation, shareholders typically have close relationships and may be involved in the daily operations of the company.
- Close corporations are often family-owned businesses or small enterprises with a tight-knit group of owners.
- Unlike publicly traded companies, close corporations are not required to disclose financial information to the public.
- The shareholders of a close corporation usually have a say in major decisions and management matters.
- Setting up a close corporation may offer certain tax advantages and flexibility in management structure.
- The shareholders' liability in a close corporation is typically limited to their investment in the company.
- Close corporations are governed by specific regulations and laws, which vary depending on the jurisdiction.
- When establishing a close corporation, shareholders often draft a detailed shareholders' agreement to outline their rights and responsibilities.
- Due to their intimate nature, close corporations often prioritize trust and cooperation among shareholders to ensure the success of the business.
FAQs About the word close corporation
a corporation owned by a few people; shares have no public market
No synonyms found.
No antonyms found.
A close corporation, often abbreviated as "CC," is a type of business entity with a limited number of shareholders.
In a close corporation, shareholders typically have close relationships and may be involved in the daily operations of the company.
Close corporations are often family-owned businesses or small enterprises with a tight-knit group of owners.
Unlike publicly traded companies, close corporations are not required to disclose financial information to the public.
