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English definition of “closely held company”

closely held company

noun [C]     (also closely held corporation, also close company)
FINANCE, STOCK MARKET a company whose shares are publicly traded, but most of whose shares are owned by five people or fewer: Being a closely held company means being able to take risks and try new things - the creative part of business.
(Definition of closely held company noun from the Cambridge Business English Dictionary © Cambridge University Press)
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